2. A city provides initial financing for its enterprise fund with the stipulation that the amount advanced

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2. A city provides initial financing for its enterprise fund with the stipulation that the amount advanced be returned to the general fund within five years. The general fund expects prompt repayment. In recording the payment to the enterprise fund, the general fund should:

a Debit the contribution to enterprise fund account b Debit the expenditures account c Debit a reserve for advance to enterprise fund account d Debit a due from enterprise fund account

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Advanced Accounting

ISBN: 9781292214597

13th Global Edition

Authors: Joseph H. Anthony, Bruce Bettinghaus, Floyd A. Beams, Kenneth Smith

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