Prior to the receipt of the bond proceeds, Oxford needed funds and went to United Southern Bank to borrow $600,000 in bond anticipation notes (BANs), at 5 percent, which were to be paid back using the proceeds of the $2,500,000 bond issue. The entry at the government-wide level to record the receipt of the bond anticipation notes would include a: A. Credit to Other Financing Sources-proceeds of BANs, $600,000. B. Debit to Cash, $1,900,000. C. Credit to Bonds Payable, $600,000. D. Debit to Cash, $600,000.
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