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At the last election, Lufkin ISD received authorization to issue new bonds. The School District issues $10 million in bonds on January 1, 2021, that
At the last election, Lufkin ISD received authorization to issue new bonds. The School District issues $10 million in bonds on January 1, 2021, that pay interest semi-annually on June 30 and December 31. A portion of the bond amortization schedule appears below: Date Cash Paid Interest increase in Carrying Expense Carrying Value Value 01/01/2021 $8,800,000 06/30/2021 | $400,000 $440,000 $40,000 8,840,000 12/31/2021 400,000 442,000 42,000 8,882,000 By analyzing this bond amortization schedule, one can determine that the bonds were issued at
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