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goji.go goji.go
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Posts: 5977
Rep: 293 0
9 years ago
Government A secured a $400,000 short-term loan from a local bank for interim financing for a governmental capital project. What would the journal entry be in the Capital Projects Fund to account for this transaction?
   
      Debit   Credit
A.   Cash
   Other Financing Sources   $400,000   
$400,000
B.   Cash
   Notes Payable   $400,000   
$400,000
C.   Construction in Progress
   Other Financing Sources   $400,000   
$400,000
D.   Cash
   Revenues   $400,000   
$400,000
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3 Replies
Diesel
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Answer accepted by topic starter
f_zah1f_zah1
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#1
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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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