Question
A $35 million bond is issued at a 1% premium by an SLG, which also incurs $25,000 in bond issue costs.The bond proceeds are designated
A$35 million bond is issued at a 1% premium by an SLG, which also incurs $25,000 in bond issue costs.The bond proceeds are designated to be used to pay for a general government capital project.The issuance of the bond requires accounting recognition in which of the following accounting entities?
a.The GCA and a Debt Service Fund
b.The GLTL and a Debt Service Fund
c.The GLTL and a Capital Projects Fund
d.Only the GLTL
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Forensic Accounting And Fraud Examination
Authors: Paul Barnes
1st Edition
1118454138, 978-1118454152
