Advanced Accounting 12th Edition by Joe Ben Hoyle,Thomas Schaefer , Timothy Doupnik

Exercise 67

A city government holds a six-year capital lease for property being used within the General Fund, Minimum lease payments total $70,000 starting next year but have a current present value of $49,000. What is the total amount of other financing sources to be recognized on the fund financial statements over this six-year period
A) $ -0-.
B) $49,000.
C) $70,000.
D) $119,000.