The General Fund transfers $50,000 cash to the Debt Service Fund to meet annual interest payments. What entry did the Debt Service Fund prepare?
A) Debit Cash $50,000, Credit Revenue $50,000
B) Debit Cash $50,000, Credit Other Financing Sources-Transfer from General Fund $50,000
C) Debit Encumbrance $50,000, Credit Due to General Fund $50,000
D) Debit Appropriation $50,000, Credit Reserve for Encumbrance $50,000
B
Business
You might also like to view...
According to the recent import regulations in the United States, action figures that represent non-human creatures such as monsters or robots are categorized as toys and qualify for lower duties than human figures that are classified as dolls
Indicate whether the statement is true or false
Business
According to the text, graphical models are logical, preliminary steps to developing mathematical models
Indicate whether the statement is true or false
Business