Question
The General Fund sent $750,000 to a debt service fund to cover principal and interest costs. This transaction would be recorded in the governmental activities
The General Fund sent $750,000 to a debt service fund to cover principal and interest costs. This transaction would be recorded in the governmental activities journal as
An inter fund transfer in.
An internal balance.
A revenue.
It would not be recorded since the transaction involves two governmental funds.
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Accounting for Governmental and Nonprofit Entities
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
18th edition
1260190080, 1260190083, 978-1259917059
