Grove Township issued $50,000 of bond anticipation notes at face amount in 20X0 and placed the
proceeds into its capital projects fund. All legal steps were taken to refinance the notes, but Grove was
unable to consummate refinancing. In the capital projects fund, what account should be credited to
record the $50,000 proceeds?
a. Other financing sources control.
b. Revenues control.
c. Deferred revenues.
d. Bond anticipation notes payable.