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mixer [17]
3 years ago
7

On the advice of the city attorney, a City Jail Debt Service Fund is opened to account for debt service transactions related to

the bond issue sold on January 1, 2017 (see Part 1).
Required:

a. Open a general journal for the City Jail Debt Service Fund. Record the following transactions, as necessary. Control accounts are not necessary

(1) The premium described in transaction 1 of Part 1 was received as a transfer from the capital projects fund.
(2) Cash in the amount of $160,000 was received from the General Fund on June 30 and was transferred to the fiscal agent.
(3) The fiscal agent reported that checks dated July 1 had been mailed to bondholders for interest due that day.
(4) The transfer described in part c of Part 1 was received.
(5) Cash in the amount of $360,000 was received from the General Fund on December 31 and transferred to the fiscal agent to be used for interest and principal payments due on January 1 (next fiscal year). The government elected to not accrue the interest at year-end.
(6) $ 200,000 of the remaining cash on hand was invested.

Business
1 answer:
dem82 [27]3 years ago
3 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

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Answer:

free rider

False

Explanation:

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Free rider can be regarded as a kind of market failure, this usually take place whenever people are enjoying the public resources, as well as services expect others to pay but himself doesn't pay or there is underpay.

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3 0
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