Question
On December 1, $125,000 was deposited with a fiscal agent for payment on bonds payable in the amount of $90,000 and interest payable for $35,000
On December 1, $125,000 was deposited with a fiscal agent for payment on bonds payable in the amount of $90,000 and interest payable for $35,000 due maturing on the last day of December. This will require a debit of
a. $125,000 to the Expenditure account in the General Fund.
b. $35,000 to the Expenditure account in the General Fund.
c. $125,000 to the other Financing UsesTransfers Out account in the General Fund.
d. $35,000 to the Expenditure account in the Debt Service Fund.
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Auditing Assurance Services and Ethics in Australia an Integrated Approach
Authors: Alvin A Arens, Peter J. Best, Greg Shailer, Brenton Fiedler
9th edition
978-1442539365, 1442539364
