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The City of Holbrook transferred $100,000 from the General Fund to the Debt Service Fund for payment of interest. The appropriate entry in the General
The City of Holbrook transferred $100,000 from the General Fund to the Debt Service Fund for payment of interest. The appropriate entry in the General Fund to record this transfer would be
Debit Expenditures $100,000; Credit Cash $100,000. | ||
Debit Other Financing Uses Transfer Out $100,000; Credit Cash $100,000. | ||
Debit Fund Balance Transfer Out $100,000; Credit Cash $100,000. | ||
Debit Other Financing Sources Transfer In $100,000; Credit Cash $100,000. |
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