interest on general long term debt would be recorded as expenditure in which of the 642112
1. Interest on general long term debt would be recorded as expenditure in which of the following financial statements?
a. Statement of revenues, expenditures, and changes in fund balances—governmental funds.
b. Statement of activities.
c. Both a and b are correct.
d. None of the above; interest is recorded as an expense, not an expenditure.
2. Which of the following accounts is unlikely to appear in a debt service fund ledger?
a. Estimated Revenue.
c. Estimated Other Financing Sources.