Capital Sewer Bond Ordinance

Question 1

To Record Sewer Bond Ordinance Entry

Answer 1

Debit - Fixed Cpaital Authorized & Uncompleted
Debit - CIF

Credit - Improvement Authorization - Funded
Credit - Improvement Authorization - unFunded
Credit - Reserve for Deferred Amorization

The Memo Entry as well

Question 2

To Record a Serial Bond - Sewer

Answer 2

Debit - Cash
Debit - Improvement Authorization - Unfunded

Credit - Serial Bonds
Credit - Improvement Authorization - Funded

Memo Entry as well

Question 3

To Record Bond Payment

Answer 3

Debit - Budget Appropiation - Bond Principal
Credit - Cash

Question 4

To record Serial Bonds Retired

Answer 4

Debit - Serial Bonds
Credit - Reserve for deferred Amoritzation

Question 5

To reocrd cancellation of Balance of Project

Answer 5

Debit - Improvement Authorization - Unfunded
Credit - Fixed Capital Authorized & uncompleted

Memo Entry as well

Question 6

To Record completed project

Answer 6

Debit - Fixed Capital
Debit - Reserve for deferred Amortization

Credit - Fixed Capital Authorized & Uncompleted
Credit - Reserve for Amortization