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A general obligation bond issue accounted for through a Debt Service Fund requires principal payments of $ 500,000 on April 1 st of each year.
A general obligation bond issue accounted for through a Debt Service Fund requires principal payments of $ 500,000 on April 1st of each year. How would the April 1st payment be reported?
Multiple Choice
- An expenditure is recorded in the Debt Service Fund.
- An Other Financing Use is recorded in the Debt Service Fund.
- A debit to the bond payable liability in the Debt Service Fund.
- None of the choices are correct.
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Accounting and Financial Analysis in the Hospitality Industry
Authors: Johnathan Hales
1st edition
132458667, 978-0132458665
