The trial balance of a county’s debt service fund at

The trial balance of a county’s debt service fund at the beginning of the year is provided below:

Dr (Cr)

Cash

$15,000

Investments

12,000

Fund balance—committed

(27,000)

Total

$ 0

General obligation debt payments for the year are estimated to be $80,000 for interest and $30,000 for the principal. The county budget requires that the general fund transfer $100,000 to the debt service fund during the year. Income on investments is budgeted at $900. The debt service fund uses budget accounts. Transactions for the year are as follows:

*

The general fund transfers $100,000 to the debt service fund.

*

The capital projects fund transfers a bond premium on newly issued bonds to the debt service fund, in the amount of $1,000.

*

The debt service fund invests $35,000 in securities and sells investments with a book value of $40,000 for $40,200. Interest income on securities held during the year is $375, received in cash. The fair value of investments held at year-end is $7,300.

*

The debt service fund makes the principal and interest payments as budgeted.

The balance for committed fund balance, reported in the debt service fund’s year-end balance sheet, is:

Select one:

A. $17,000

B. $27,000

C. $18,875

D. $17,900

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