Solved

On December 1, $125,000 Was Deposited with a Fiscal Agent

Question 8

Multiple Choice

On December 1, $125,000 was deposited with a fiscal agent for payment on bonds payable in the amount of $90,000 and interest payable for $35,000 due maturing on the last day of December.This will require a debit of


A) ​$125,000 to the Expenditure account in the General Fund.
B) ​$35,000 to the Expenditure account in the General Fund.
C) ​$125,000 to the Other Financing Uses--Transfers Out account in the General Fund.
D) ​$35,000 to the Expenditure account in the Debt Service Fund.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents