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central county received proceeds from various towns and cities for capital projects financed by central's long-term debt. a special tax was assessed by each local government, and a portion of the tax was restricted to repay the long-term debt of central's capital projects. central should account for the restricted portion of the special tax in which of the following funds?

Answer

For this particular case, the central authority should utilize a debt service fund to account for the restricted portion of the special tax. A "Debt Service Fund" refers to a reserve of cash that an organization maintains in order to make timely payments towards their dues and obligations, primarily consisting of principal and interest payments for specific types of debt. The establishment of a debt service fund serves as a precautionary measure to minimize the risk of an organization failing to fulfill its financial obligations on time. Consequently, the existence of a debt service fund can attract potential investors as there is a lower likelihood of delayed payment. For further information about debt service fund, please refer to the following link: brainly.com/question/24084279 #SPJ4