Flora City is accumulating financial resources that are legally restricted to payments of general long-term debt principal and interest maturing in future years. At year-end, $7,000,000 has been accumulated for principal payments, and $2,200,000 has been accumulated for interest payments. These restricted funds should be accounted for in the

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The Answer of Flora City is accumulating financial resources that are legally restricted to payments of general long-term debt principal and interest maturing in future years. At year-end, $7,000,000 has been accumulated for principal payments, and $2,200,000 has been accumulated for interest payments. These restricted funds should be accounted for in the

Flora City Is Accumulating Financial Resources That Are Legally Restricted