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At the start of 2019, Croton's Debt Service Fund had no assets or liabilities. record these transactions in the Debt Service Fund and where...
record these transactions in the Debt Service Fund and where appropriate, in the General Fund. We suggest you post opening balances and the journal entries to general ledger T-accounts.)
The General Fund transferred $1,200 cash to the Debt Service Fund.
The first installment of principal and interest on the bonds sold in Part C (1) came due for payment.
The principal and interest due for payment were paid.
Debt service on bonds sold by Croton in previous years came due and was paid. Principal and interest payments on those bonds were $600 and $470, respectively.
