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[Para. 6-a5] To permit payment of the $40,000 interest payment due on January 1, 2018,the Street Improvement Bond Debt Service Fund received $10,000 from the
[Para. 6-a—5] To permit payment of the $40,000 interest payment due on January 1, 2018,the Street Improvement Bond Debt Service Fund received $10,000 from the GeneralFund. That amount together with available cash balance in the debt service fund will besufficient to cover the January 1, 2018, interest payment. Required: Record the interfund transfer in the debt service fund journal only. Thistransaction was previously recorded in the General Fund in Chapter 4 of this problem. The transaction has no effect at the government-wide level since it occurs between twogovernmental funds.
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