Payment of principal-interest on long term debt, Accounting Basics

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Payment of principal-interest on long term debt

When the debt service fund makes a payment of principal and interest on an outstanding long term debt, the governmental activities accounts:

A. reflects the principal payment only

B. reflects the interest payment only

C. Has no record of the transaction

D. reflects both principal and interest payments

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Accounting Basics: Payment of principal-interest on long term debt

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Payment of principal-interest on long term debt

Reference No:- TGS057302

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Making a cost of goods manufactured schedule

Q : Establishment over cash transaction

Q : Problem based on same inventory method

Q : Capital assets in the cites governmental activities

Q : Payment of principal-interest on long term debt

Q : Early retirement of the bonds

Q : Cash payments made to suppliers

Q : Calculate the cost per equivalent unit for materials

Q : Make the entry to record construction costs

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Payment of principal-interest on long term debt

Reference No:- TGS057302

Recent Questions Asked Accounting Basics

Q : Making a cost of goods manufactured schedule

Q : Establishment over cash transaction

Q : Problem based on same inventory method

Q : Capital assets in the cites governmental activities

Q : Payment of principal-interest on long term debt

Q : Early retirement of the bonds

Q : Cash payments made to suppliers

Q : Calculate the cost per equivalent unit for materials

Q : Make the entry to record construction costs

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