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goji.go goji.go
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Posts: 5977
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9 years ago
In the fiscal year ended September 30, 20X9, debt service payments were made in January and July from the Debt Service Fund in the total amount of $25,000 ($10,000 principal, $15,000 interest). The sole financial resource for the debt service payments are the proceeds of a special debt service tax levy. The taxes are paid in increments of about $27,000 and are due in June of each year. For the fiscal year ended September 30, 20X9, assuming $24,000 of taxes had been collected for this fiscal year, the expenditures reported in the Debt Service Fund would be
A.   $10,000.
B.   $15,000.
C.   $24,000.
D.   $25,000.
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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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