The city of Brittainville's Special Revenue Fund levied $350,000 in taxes, of which 1% was expected to be uncollectible during the current year. Also during the year, the fund collected $7,500 of interest revenue and $50,000 was transferred from the General Fund. As a result of these transactions fund balance will increase by
A) $407,500.
B) $404,000.
C) $357,500.
D) $354,000.
Correct Answer:
Verified
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