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Dmitry [639]
3 years ago
12

The General Fund of a city pays all utility bills received from private companies for services provided to city agencies. It the

n bills other funds for their shares of the bills. On May 10, the General Fund pays an electric bill for $230,000. It then sends a bill to the Library Special Revenue Fund for $4,000, representing the library's share of the bill. Which entry should the General Fund make when it sends the bill to the Library Special Revenue Fund?
Business
1 answer:
UNO [17]3 years ago
8 0

Options:

a. expenditures - utilities

b. due from library special revenue fund

c. transfer out to library special revenue fund

d. due to library special revenue fund

Answer:

Correct answer is A

Explanation:

The entry that the General Fund make when it sends the bill to the Library Special Revenue Fund should be expenditures - utilities .

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