Question
A county includes debt service in its general fund budget, but makes debt service payments using a debt service fund. During the year, the debt
A county includes debt service in its general fund budget, but makes debt service payments using a debt service fund. During the year, the debt service fund receives $195,000 from the general fund for debt service, and makes principal payments of $130,000 and interest payments of $65,000 on general obligation bonds. How much is reported as expenditures in the general fund and debt service fund operating statements? Select one: a. General Fund Debt Service Fund $0 $65,000 b. General Fund Debt Service Fund $195,000 $65,000 c. General Fund Debt Service Fund $65,000 $130,000 d. General Fund Debt Service Fund $0 $195,000
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