Question
Typically governments issue bonds to finance the cost of long-term construction projects. Initially, the bond proceeds are recorded in the debt service funds , and
Typically governments issue bonds to finance the cost of long-term construction projects. Initially, the bond proceeds are recorded in the debt service funds , and then transferred to the capital projects funds to pay for construction expeditures. Provide an example of the journal entry that transfers the proceeds from the debt service funds of $1.0 million into the capital projects funds.
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MIS Management Information Systems
Authors: Hossein Bidgoli
8th edition
978-1337406932, 1337406937, 978-1337406925, 1337406929, 978-0357004357
