The city of san jose built a new city hall and financed, Ask an Expert

Accounting

The City of San Jose built a new city hall and financed construction by issuing bonds due in installments over the next 30 years. The bond principal and interest will be paid by a special tax levied on property in the City. The revenue received from this special tax should be accounted for in which of the following funds?

a) General fund.

b) Internal service fund.

c) Capital project fund.

d) Debt service fund.

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Accounting Basics, Accounting

Category:- Accounting Basics
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