What Account Should Be Debited in the Debt Service Fund

question 36

Multiple Choice

What account should be debited in the debt service fund to recognize an installment payment currently due on general obligation serial bonds?
I.Matured Bonds Payable.
II.Expenditures-Principal.

• A)I
• B)II
• C)Either I or II
• D)Neither I nor II

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Definitions:

Thymosin

A hormone produced by the thymus gland, involved in the development and differentiation of T-cells in the immune system.

Imperative

Imperative refers to something of vital importance or necessity that demands attention or action.

Vocative

The vocative case is a grammatical feature used to denote direct addressing of someone or something, typically seen in languages that have a case system.

Passive

A grammatical voice where the subject of the sentence is the recipient of an action rather than the performer.