When bonds are sold to construct a capital asset through a capital projects fund,an entry would be made to debit Cash and credit Bonds Payable in the capital projects fund.
FALSE

Question

Quizplus · Accepted Answer

In a capital projects fund, the entry would typically debit Cash and credit Other Financing Sources, not Bonds Payable, as the fund focuses on financial resources rather than long-term liabilities.

When Bonds Are Sold to Construct a Capital Asset Through