For the receipt of interest and dividends on investments of a governmental entity's nonexpendable private-purpose trust, journal entries must be prepared for both the endowment principal nonexpendable trust fund and the endowment revenues expendable trust fund.

Question

Quizplus · Accepted Answer

Interest and dividends earned on investments of a governmental entity's nonexpendable private-purpose trust are recorded in the endowment revenues expendable trust fund.

For the Receipt of Interest and Dividends on Investments of a Governmental