A city issues $1,000,000 of 10 -year general obligation bonds on April 1, 2022. It is required to make a principal payment of $100,000 on April 1 of each year, starting with April 1, 2023, with interest of 5 percent per annum paid on the unpaid principal. How much interest expenditure and expense should the city recognize in its governmental fund and government-wide operating statements for the calendar year ending December 31, 2022? Select one