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11 August, 13:12

A special tax was levied by Downtown City to retire and pay interest on general obligation bonds that were issued to finance the construction of a new city hall. Where are the receipts from the tax recorded?

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  1. 11 August, 15:12
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    Based on the question given, receipts from the tax should be recorded in the debt service funds.

    Explanation:

    A special tax was levied by Downtown City to retire and pay interest on general obligation bonds that were issued to finance the construction of a new city hall. Where are the receipts from the tax recorded - Receipts from the tax should be recorded in the debt service funds.
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