If a city receives $5,000,000 of bond proceeds to be used for capital projects: a)...
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Accounting
If a city receives $5,000,000 of bond proceeds to be used for capital projects:
a) which fund would the cash be recorded in when it is received? b) Why or why not would capital project fund be used? c) Why or why not would general fund be used? d) Why or why not would debt service fund be used? e) Would these funds be considered revenue when the funds are received why or why not?
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