A county debt service fund made principal payments of $200,000 and interest payments of $150,000 during the
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A county debt service fund made principal payments of $200,000 and interest payments of $150,000 during the year. The accrued interest on the long-term debt was $10,000 at the beginning of the year and $12,000 at the end of the year. What should be reported by the debt service fund as expenditures for debt service for the year?
1. $150,000.
2. $152,000.
3. $350,000.
4. $352,000.
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Related Book For
Fundamentals Of Governmental Accounting And Reporting
ISBN: 9781119736660
1st Edition
Authors: Bruce W. Chase
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