Question
Harold Citys fiduciary funds contained the following cash balances at December 31: Cash confiscated from illegal activities to be disbursed only for law enforcement activities
Harold Citys fiduciary funds contained the following cash balances at December 31:
| Cash confiscated from illegal activities to be disbursed only for law enforcement activities | $300,000 |
| Sales taxes collected by Harold to be distributed to other governmental units | 500,000 |
What amount of cash should Harold report in a special revenue fund at December 31?
$800,000
$300,000
$500,000
$0
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Cornerstones Of Financial And Managerial Accounting Fnec 220
Authors: Jay S. Rich, Jeff Jones, Dan L. Heitger, Maryanne M. Mowen, Don R. Hansen
2nd Edition
1133275583, 978-1133275589
