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The general fund transfers $1,100,000 to the debt service fund. $100,000 of this is for interest expense and $1,000,000 of this is for payment of
The general fund transfers $1,100,000 to the debt service fund. $100,000 of this is for interest expense and $1,000,000 of this is for payment of principal. What should the CREDIT entry be for the general fund? a. $1,100,000 Nonreciprocal transfer to debt service b. $100,000 in interest expense and $1,000,000 to notes payable C. cash d. debt service expenditure e. $100,000 in interest expenditure and $1,000,000 to notes payable
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