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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 received insurance proceeds of $35,000 in the General Fund for water and smoke damage that occurred at City Hall. What journal entry best describes the accounting treatment in the General Fund for the receipt of these funds?
A.   Debit cash and credit revenues.
B.   Debit cash and credit other financing sources.
C.   Debit cash and credit expenditures.
D.   Debit cash and credit other financing uses.
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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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