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A payment of $2,300,000 is made on a long-term liability. Of this amount, $300,000 is payment for interest while the remaining $2,000,000 is repayment of
A payment of $2,300,000 is made on a long-term liability. Of this amount, $300,000 is payment for interest while the remaining $2,000,000 is repayment of principal. Calculate the impact of this payment on the total net position for government-wide financial statements (Please use a negative number to indicate a decrease).
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Financial Accounting and Reporting a Global Perspective
Authors: Michel Lebas, Herve Stolowy, Yuan Ding
4th edition
978-1408066621, 1408066629, 1408076861, 978-1408076866
