The City of Cowlings General Fund loans $88,000 to its Golf Course Enterprise Fund. The...
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Accounting
The City of Cowlings General Fund loans $88,000 to its Golf Course Enterprise Fund. The loan
must be repaid in five years. Which account in the General Fund is debited when the loan is made?
a. Unassigned fund balance
b. Due from Golf Course Enterprise Fund
c. Accounts payable
d. Nonspendable fund balance
Please mention why the rest rest of the options are incorrect (very important)
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