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Question 2
Taxes collected and held by Franklin County for a separate
school district would be accounted for in which fund?
Question 3
During the past fiscal year, Arnett County recorded the
following transactions: Receipt of $36,000 of
intergovernmental revenues which must be used to provide
medical assistance to victims of natural disasters. Investment
earnings of $5,000 from an endowment established by the local
Lions Club to subsidize summer camp for the Boy Scouts with
demonstrated financial need. $3,000,000 in proceeds from
revenue bonds. How much money from these transactions
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