A debt service fund for the City of Madison received $50,000 from a capital projects fund.The amount received represented the premium received from the issuance of general obligation bonds.What account should the debt service fund credit to record this receipt?
A) Revenue-General Obligation Bond Premium.
B) Matured Bonds Payable.
C) Other Financing Sources-Transfer In from Capital Projects Fund.
D) Due to Capital Projects Fund.
Correct Answer:
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