Revenues in a Debt Service Fund are recognized when

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Revenues in a Debt Service Fund are recognized when they are measurable and available. This means that the amount can be quantified and it is actually available to be spent. This is because the purpose of the Debt Service Fund is to account for the accumulation of resources and the payment of principal and interest on long-term debt. Therefore, recognizing revenue before it is available to pay debt service would not accurately reflect the fund's financial position.

Revenues in a Debt Service Fund Are Recognized When