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The Journal Entry for the Debt Service Fund Upon the Receipt

Question 123

Multiple Choice

The journal entry for the Debt Service fund upon the receipt of money from the General Fund would be:


A) Debit to Cash and credit to Other Financing Uses - Transfer Out.
B) Debit to Cash and a credit to Transfers Payable.
C) Debit to Other Financing Sources - Transfer In and credit to Cash.
D) Debit to Cash and credit to Other Financing Sources - Transfer In.

Correct Answer:

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