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A city has a General Fund and an Enterprise Fund. During the current year, the city borrows $1,000,000 to be used for General Fund operations

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A city has a General Fund and an Enterprise Fund. During the current year, the city borrows $1,000,000 to be used for General Fund operations and another $1,000,000 to be used to improve the city's water system, which is accounted for in an Enterprise Fund. What account(s) would be credited in the General Fund and Enterprise Fund to record these transactions? The General Fund would credit "Other financing source" and the Enterprise Fund would credit "Bonds payalle." The General Fund would credit "Bond revenue" and the Enterprise Fund would credit "Other financing source." Both the General Fund and the Enterprise Fund would credit "Bonds payable." No entry would be required for the General Fund, but the Enterprise Fund would credit "Bonds payable

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