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A government provided original financing for its supplies fund by a transfer of $40,000 cash...

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Accounting

A government provided original financing for its supplies fund by a transfer of $40,000 cash from the General Fund. The transferee fund credited the amount to Interfund Loan from General Fund-Noncurrent. Assuming that the terminology is correct, how should the transfer be classified in the statements of the supplies fund? Suggest an appropriate name for the corresponding account in the General Fund; how should the corresponding account be shown in the statements of the General Fund?

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