In a particular debt service fund journal entry the offsetting credit to debits for Assessments Receivable-Current could be to Assessments Receivable-Deferred.

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The credit in the initial year should be to revenues; however, the suggested entry does occur in subsequent years to reclassify deferred revenues to current. At the same time deferred revenues are reclassified to revenues.

In a Particular Debt Service Fund Journal Entry the Offsetting