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1. April 1. McGaha Village issues bonds for their face amount of $375,000. 2. April 1. McGaha Village acquires sanitation trucks at a total cost

image text in transcribed 1. April 1. McGaha Village issues bonds for their face amount of $375,000. 2. April 1. McGaha Village acquires sanitation trucks at a total cost of $375,000 for cash. The trucks have an estimated useful life of 10 years. 3. October 1. McGaha Village records the fund liability and pays the first installment of principal ( $18,750) and interest ($9,375) on the long-term debt

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