A certain city reports the following year-end total assets: General Fund $18,400,000 Library Fund (a special revenue fund) 2,900,000 Debt Service Fund 2,600,000 Total governmental funds 26,300,000 Total governmental and enterprise funds combined 51,250,000 Based on this information, which funds should be reported as major funds?
A. General Fund only
B. General Fund and Library Fund
C. General Fund and Debt Service Fund
D. All three funds should be reported as major funds
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