The General Fund used electricity provided by the city-owned electric utility (an enterprise fund of the...
| The General Fund used electricity provided by the city-owned electric utility (an enterprise fund of the city). The General Fund general journal entry to record the transaction will include: |
Question 37 options:
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Homework Answers
Option D. A debit to expenditures.
The journal entry is
Expenditure account Dr
To General Fund account
A general fund is used to record all resources inflows and outflows that are associated with the special purpose funds. The general fund can be used to pay for administrative and operative expenses. In the present case, the general fund is used for administrative purpose.
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The General Fund used electricity provided by the city-owned
electric utility (an enterprise fund of the...
The General Fund used electricity provided by the city-owned electric utility (an enterprise fund of the...
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