At the time a bond issue is legally authorized it is usual practice to make either no entry or a memorandum entry in the capital projects fund general journal.

Name: At the time a bond issue is legally authorized it is usual practice to make either no entry or a memorandum entry in the capital projects fund general journal.
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There are no cash proceeds to be recognized until bonds are actually sold, so it would be inappropriate to make a formal journal entry prior to actual issuance.

At the Time a Bond Issue Is Legally Authorized It