Question
A $5,000,000 issue of construction bonds were sold at par by the capital projects fund. Debt issuance costs included administrative fees of $45,000 and prepaid
A $5,000,000 issue of construction bonds were sold at par by the capital projects fund. Debt issuance costs included administrative fees of $45,000 and prepaid insurance costs of $5,000.
Capital Projects Fund
Record the issue of construction bonds
Record the debt issuance costs.
Governmental Activities
Record the issue of construction of bonds
Record the debt issuance costs
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Cornerstones of Managerial Accounting
Authors: Maryanne M. Mowen, Don Hanson, Dan L. Heitger, David McConomy, Jeffrey Pittman
2nd Canadian edition
978-0176721237, 978-0176530884
