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Provo, Utah maintains a debt service fund for the payment of principal and interest on its long-term debt. Principal payments are covered by levying property
Provo, Utah maintains a debt service fund for the payment of principal and interest on its long-term debt. Principal payments are covered by levying property taxes and interest payments are covered through transfers from the General Fund. The first installment of principal ($500,000) and interest ($54,000) is due on 1/1/2018.
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To record the transfer from the General Fund to the Debt Service F...
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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
