d. Eliminate the other financing sources from the sale of bonds by recording a liability for bonds payable and the related premium. 6. As of January 1, 2015, the City of Monroe had $12,000,000 in general obligation bonds outstanding. f. Eliminate the expenditures for bond principal. g. Accrue interest in the amount of $328,000. (Two bond issues were outstanding; interest payments for both were last made on July 1, 2015. The computation is as follows: ($11,200,000 X .03 X 5/12) + ($4,000,000 X. 08 x 6/12) = $328,000). h. Adjust for the interest accrued in the prior year government-wide statements, but recorded as an expenditure in the 2015 fund basis statements, ($12,000,000 >