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checks totaling $25,000 were written and mailed to bondholders for the interest payment due July 1, 2023. Record the interest payment in both the debt
checks totaling $25,000 were written and mailed to bondholders for the interest payment due July 1, 2023.
Record the interest payment in both the debt service fund and governmental activities journals. At the government wide level, reduce the premium on bonds payable by 1,406, the difference between the stated interest rate (0.02 X 6/12 X 2,500,000) and the effective interest rate )0.01875 X 6/12 X $2,516,742)
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