The City of X had the following debt outstanding: General obligation bonds to be paid from a debt service fund $2,000,000
General obligation bonds to be paid from utility revenues $3,000,000
Revenue bonds to be paid from utility revenues $4,000,000
The amount that should be shown as debt in the utility (enterprise) fund would be:
A) $4,000,000
B) $6,000,000
C) $7,000,000
D) $9,000,000
Correct Answer:
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