On December 1, $125,000 was deposited with a fiscal agent for payment on bonds payable in the amount of $90,000 and interest payable for $35,000 due maturing on the last day of December. This will require a debit of
A) $125,000 to the Expenditure account in the General Fund.
B) $35,000 to the Expenditure account in the General Fund.
C) $125,000 to the Other Financing Uses--Operating Transfers Out account in the General Fund.
D) $35,000 to the Expenditure account in the Debt Service Fund.
Correct Answer:
Verified
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