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Home Q & A Board Other Fields Homework Help Business Accounting
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goji.go goji.go
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Posts: 5977
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9 years ago
A government retired $5,000,000 of outstanding general obligation bonds when due. The government used $3,000,000 of proceeds from new bonds issued to provide resources for retiring the old bonds. The other $2,000,000 had been accumulated from tax and interest revenues over the years that the old bonds were outstanding. The government should report this transaction in its Debt Service Fund as
A.   Other financing uses of $5,000,000.
B.   Expenditures of $5,000,000.
C.   Other financing uses of $3,000,000 and expenditures of $2,000,000.
D.   Other financing uses of $2,000,000 and expenditures of $3,000,000.
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Diesel
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Answer accepted by topic starter
f_zah1f_zah1
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9 years ago
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goji.go Author
wrote...
#2
9 years ago
Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth
Diesel
wrote...
#3
9 years ago
You're very welcome!
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