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A city issues $900,000 of 10-year general obligation bonds on April 1, 2022. It is required to make a principal payment of $90,000 on April
A city issues $900,000 of 10-year general obligation bonds on April 1, 2022. It is required to make a principal payment of $90,000 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: a. Governmental Fund Government-Wide $33,750 $0 b. Governmental Fund Government-Wide $33,750 $33,750 c. Governmental Fund Government-Wide $0 $0 d. Governmental Fund Government-Wide $0 $33,750
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