Which Entry Would Be Recorded in the Debt Service Fund

question 83

Multiple Choice

Which entry would be recorded in the Debt Service Fund?

• A) Ordinary property taxes of $420,000 are levied by the Village of Amazon. Of this total amount 3% are expected to be uncollectible.
• B) Land is purchased for a new jail at a cost of $550,000.
• C) $783,000 is transferred from the General Fund for the payment due on the jail fund serial bonds.
• D) During the year, the State notified the Village of Amazon that $225,000 in motor fuel taxes will be awarded; $170,000 was received in cash and the remainder (due from the state) should be received within 30 days of the end of the fiscal year.

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The process of approaching death or the cessation of life.

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