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The City of Crescent Hill operates a central motor pool as an internal service fund for the benefit of the citys other funds and departments.
The City of Crescent Hill operates a central motor pool as an internal service fund for the benefit of the citys other funds and departments. In the current year, this fund billed the Parks Department $30,000 for vehicle rentals. What account should the internal service fund use to record these billings? A) Interfund transfers in B) Cost of providing rentals to other funds and units C) Interfund exchanges D) Billings to departments |
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