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 $75,000 from the general fund for debt service, and makes principal payments of $50,000 and interest payments of $25,000 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 $30,000 b. General Fund Debt Service Fund $90,000 $30,000 c. General Fund Debt Service Fund $0 $90,000 d. General Fund Debt Service Fund $30,000 $60,000
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