Question
The journal entry for the Debt Service fund upon the receipt of money from the General Fund would be: Multiple Choice a. Debit to Cash
The journal entry for the Debt Service fund upon the receipt of money from the General Fund would be:
Multiple Choice
a. Debit to Cash and credit to Other Financing UsesTransfer Out.
b. Debit to Other Financing SourcesTransfer In and credit to Cash.
c. Debit to Cash and credit to Other Financing SourcesTransfer In.
D. Debit to Cash and a credit to Transfers Payable.
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Financial Accounting An Introduction
Authors: Alex Watson, Jacqui Kew
5th Edition
0190425520, 978-0190425524
