Question
If a city has an unpaid capital lease obligation at the beginning of its fiscal year, the journal entry in the debt service fund to
If a city has an unpaid capital lease obligation at the beginning of its fiscal year, the journal entry in the debt service fund to record the lease payment at the end of that fiscal year will include
| A debit to Capital Lease Obligations Payable |
| A credit to ExpendituresPrincipal of Capital Lease Obligation |
| A debit to ExpendituresPrincipal of Capital Lease Obligation |
| A debit to Interest Expense on Capital Leases |
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Introduction to Governmental and Not for Profit Accounting
Authors: Martin Ives, Terry K. Patton, Suesan R. Patton
7th edition
9780132776073, 132776014, 978-0132776011
