A City Electric Utility Enterprise Fund made its annual interest payment on its outstanding $20 million of 6% bonds, which were originally issued at a premium.Assuming the City maintains it books and records in a manner that facilitates preparation of its fund financial statements, the entry to record this would include a credit to Cash for the amount of the interest checks written and debits to

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The Answer of A City Electric Utility Enterprise Fund made its annual interest payment on its outstanding $20 million of 6% bonds, which were originally issued at a premium.Assuming the City maintains it books and records in a manner that facilitates preparation of its fund financial statements, the entry to record this would include a credit to Cash for the amount of the interest checks written and debits to

A City Electric Utility Enterprise Fund Made Its Annual Interest