Internal service fund as what types of transactions

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1. The billings for transportation services provided to other governmental units are recorded by an internal service fund as what types of transactions? Defend your answer – explain and cite your source.

2. Mary wants to purchase a condo at the end of five years. In order to do so, she will need $25,000 for the down payment. How much should she place at the end of each month into a savings account earning an annual intertest rate of 4.5% compounded monthly to meet this goal? Determine the equity in this fund at the end of each year.

3. A major advantage to use long-term debt financing from the corporation's perspective is the tax deductibility of interest. True or false?

Reference no: EM132020168

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