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The general fund transfers $1,100,000 to the debt service fund. $100,000 of this is for interest expense and $1,000,000 of this is for payment of principal. What should the CREDIT entry be for the general fund? a. debt service expenditure b. $1,100,000 Nonreciprocal transter to debt service c. cash d. $100,000 in interest expense and $1,000,000 to notes payable e. $100,000 in interest expenditure and $1,000,000 to notes payable A city transfers $5 milion from the general fund to the capital improvements Tund: of the period how will these transactions be reported? a. Unless these transactions go thru an internal service fund or enterprise fund the transactions would be eliminated. b. The general fund would still report the transfer as an expenditure and the capital projects fund will still show it as revenue c. Each fund will report the full transaction as fund statements are combined d. Each fund will back out the full transaction as fund statements are consolidated