The City of Holbrook Transferred $100,000 from the General Fund

question 55

Multiple Choice

The City of Holbrook transferred $100,000 from the General Fund to the Debt Service Fund for payment of interest.The appropriate entry in the Debt Service Fund to record this transfer would be

• A)Debit Cash $100,000; Credit Revenue $100,000.
• B)Debit Cash $100,000; Credit Other financing uses-transfer Out $100,000.
• C)Debit Cash $100,000; Credit Fund balance-transfer in $100,000.
• D)Debit Cash $100,000; Credit Other financing sources-transfer in $100,000.

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Definitions:

Moistened

Slightly wet or dampened; having moisture added to make something slightly wet.

Epiglottis

A cartilaginous lid that closes over the larynx when swallowing.

Larynx

A cartilaginous structure at the top of the trachea involved in breathing, producing sound, and protecting the airway during swallowing.

Chronic Disorder

A long-lasting condition that can be controlled but not cured, affecting an individual's lifestyle and quality of life.