All of the following transactions decreases the fund balance of a ...

[sammy]

All of the following transactions decreases the fund balance of a governmental fund except
 
  a. purchase of equipment.
  b. retirement of the principal of a short-term note.
  c. transfer to a Debt Service Fund.
  d. purchase and use of supplies.

Question 2

Payment of merchandise purchased on account within the discount period is recorded in the cash payments journal.
 a. True
   b. False
   Indicate whether the statement is true or false

[ambernicolefink]

Answer to Question 1

B

Answer to Question 2

True

[sammy]

Thanks for the timely response, appreciate it

[mammy1697]

Gracias!