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

question 32

Multiple Choice

The City of Holbrook transferred $100,000 from the general fund to a 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 Reciprocal transfer-in $100,000.
• C) Debit Cash $100,000; Credit Fund balance $100,000.
• D) Debit Cash $100,000; Credit Nonreciprocal transfer-in $100,000.

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Definitions:

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Measures, practices, or procedures implemented to protect individuals, assets, or information from harm, theft, or unauthorized access.

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