A government paid $6,000,000 into an irrevocable trust to be used to service $5,000,000 of outstanding general obligation bonds. The old debt is considered to be defeased in substance, The payment included $3,000,000 of proceeds from a new bond issue and another $3,000,000 that had been accumulated in the Debt Service Fund. The government should report this transaction in its Debt Service Fund as . Other financing uses of $6,000,000 B. Expenditures of $6,000,000 C. Other financing uses of $3,000,000 and expenditures of $3,000,000 D. No journal entry would be required since the old debt is considered to be defeased A government retired $5,000,000 of outstanding general obligation bonds when due. The government used $3,000,000 of proceeds from a new bond issue and another $2,000,000 from financial resources previously accumulated in the Debt Service Fund. After the old debt is retired, what would be the amount of General Long Term Liabilities reported in the nonfund $2,000,000 $3,000,000 C. $5,000,000 $8,000,000 D 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 each May 1. What amount of Debt Service expenditures should be reported For the year ending December 31, 20X8. . $ 60,000 $ 90,000 C. S160,000 D. S190,000