Question
4 points Save Answer The GF of Thomasville made a permanent contribution of capital to the Data Processing Fund (an Internal Service Fund). This fund
4 points Save Answer The GF of Thomasville made a permanent contribution of capital to the Data Processing Fund (an Internal Service Fund). This fund will provide data processing services to all governmental units for a fee. The initial contribution was $2,000,000. What would be the entry in the Data Processing Fund? a. Debit Cash $2,000,000 Credit Fund Balance $2,000,000 Ob. Debit Cash $2,000,000 Credit Retained Earnings $2,000,000 Oc. Debit Contributed capital from GF $2,000,000 Credit Fund Balance $2,000,000 Od. Debit Cash $2,000,000 Credit Transfer in from GF $2,000,000
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