Calhoun County Makes Annual Transfers from the General Fund to the Debt

Calhoun County makes annual transfers from the general fund to the debt service fund to pay principal and interest on long-term debt.
-When the county makes the transfer the entry in the debt service fund should be

A) Debit Cash; Credit Revenue.
B) Debit Cash; Credit Other financing sources-nonreciprocal transfer-in.
C) Debit Cash; Credit Interest payable.
D) Debit Cash with fiscal agent; Credit Other financing sources-nonreciprocal transfer-in.

Correct Answer:

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