If a special tax is levied to finance debt service for a particular debt issue, the entry to record the levy in the Debt Service Fund would be
A) Debit Taxes Receivable and credit to Revenues.
B) Debit Taxes Receivable and credit to Other Financing Sources.
C) Debit Prepaid Assets and credit to Revenues.
D) Tax levies may not be reported in a Debt Service Fund.
Correct Answer:
Verified
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