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on number 2. I put bonds payable as cr. but it states that it's incorrect. need help with 2. all others are correct Exercise 5-23
on number 2. I put bonds payable as cr. but it states that it's incorrect. need help with 2. all others are correct
Exercise 5-23 (Static) Funding Capital Projects [LO 5-4] Santa Maria Village received voter approval to issue bonds for construction of a bike path, including restrooms and picnic shelters, along village oceanfront. The finance department has discussed three different financing mechanisms. As a new accountant for the village, you want to be prepared to record each option. Required Prepare journal entries for capital projects fund and the government-wide governmental activities general journal for each of the following unrelated transactions. (The General Fund should not be used.) (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) village secures a bond anticipation note payable in the amount of $150,000 to pay initial expenses. This note is considered short-term. he village secures a bond anticipation note in the amount of $500,000 to pay initial expenses for construction of a convention center. The debt is sidered long-termStep by Step Solution
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