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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
If a special tax is levied to finance debt service for a particular debt issue, the entry to record the levy in the Debt Service Fund would be
A.   Debit Taxes Receivable and credit to Revenues.
B.   Debit Taxes Receivable and credit to Other Financing Sources.
C.   Debit Prepaid Assets and credit to Revenues.
D.   Tax levies may not be reported in a Debt Service Fund.
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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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