Question
A government has $1,000,000 of 6%, 10-year general obligation bonds outstanding. The bonds were issued on November 1, 20X7 to finance construction of a general
A government has $1,000,000 of 6%, 10-year general obligation bonds outstanding. The
bonds were issued on November 1, 20X7 to finance construction of a general capital asset.
Interest is payable semiannually on November 1 and May 1. The bonds also require an
annual principal payment of $100,000 on May 1. What amount of debt service expenditures
should the government report for the year ended December 31, 20X8?
A. $60,000.
B. $90,000.
C. $190,000.
D. $160,000.
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Practical Guide To Auditing SAP Systems
Authors: Martin Metz, Sebastian Mayer
1st Edition
3960126409, 978-3960126409
