Question
In November 2014, the 3% certificates of deposit matured; the face amount of $1,000,000 plus interest of $15,000 was collected. The interest is considered revenue
In November 2014, the 3% certificates of deposit matured; the face amount of $1,000,000 plus interest of $15,000 was collected. The interest is considered revenue of the Street Improvement Fund. Required: Record this transaction in both the general journal of the Street Improvement Fund and governmental activities journals. solve this only if you know the 100% correct answer.
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Corporate Financial Reporting And Analysis
Authors: David Young, Jacob Cohen
3rd Edition
1118470559, 9781118470558
