Author Question: The Unearned Revenue account normally has a debit balance. a. True b. False Indicate whether ... (Read 101 times)

nelaaney · **on:** Jul 6, 2018

The Unearned Revenue account normally has a debit balance.
a. True
b. False
Indicate whether the statement is true or false

Question 2

On October 1, the county issued a six-month, 6, 200,000 bond anticipation note to provide temporary financing for a police station.

The voters have approved the issuance of bonds to finance the project and the bonds are issued early in the following year. The county government was billed 150,000 during the year on its capital project and 125,000 was paid. The government should report Capital Projects Fund expenditures for the current year ending December 31 equal to:
a. 125,000
b. 150,000
c. 153,000
d. 162,000