Solution-What amount should be recorded as long-term

What amount should be recorded as long-term liabilities

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Reference no: EM132527292

Question - Tinsel Town had the following long-term liabilities at year-end:

Revenue bonds to be repaid from tolls collected by the super highway enterprise fund $250,000 and General obligation bonds issued for the Tinsel Town water utility, which will service the debt $200,000.

What amount should be recorded as long-term liabilities in the proprietary fund financial statements?

1. $0

2. $200,000

3. $250,000

4. $450,000

Reference no: EM132527292

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What amount should be recorded as long-term liabilities

Reference no: EM132527292

Reference no: EM132527292

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