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How much revenue should the debt service fund report

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Question - A Debt Service Fund collects $1,000,000 in current-year property taxes that are dedicated to the payment of debt service principal and interest during the year. It also expects to collect an additional $80,000 of dedicated current-year property taxes during the first 60 days of the next fiscal year. The General Fund transferred $250,000 to the Debt Service Fund during the current year. Earnings on investments in the Debt Service Fund for the current year were $28,000. How much revenue should the Debt Service Fund report for the current year?

Reference no: EM133144795

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