Author Question: A city's General Fund provides a two-year loan to the Internal Service Fund. To record this ... (Read 121 times)

Jipu 123 · **on:** Jul 5, 2018

A city's General Fund provides a two-year loan to the Internal Service Fund. To record this transaction the city should record a debit to what account in the General Fund?

a. Due from the Internal Service Fund
b. Advance to the Internal Service Fund
c. Advance from the Internal Service Fund
d. Transfer to the Internal Service Fund

Question 2

The increase side of an account is also the side of the normal balance.
a. True
b. False

Indicate whether the statement is true or false