Question
During 2007 Thomas's Township engaged in the following transactions related to moderning the bridge-Long term construction projects ina capital project found. On 7/1/2007 it issued
During 2007 Thomas's Township engaged in the following transactions related to moderning the bridge-Long term construction projects ina capital project found.
On 7/1/2007 it issued ten-year 4% bonds with a face value of $1milion.The bonds were sold for $1,016,510, an amount that provides an annual yield of 3.8%.The city incurred $10,000 in issue costs.The premium was transferred to the appropriate account,net of the issue costs. If transferred $20,000 from the general fund to an appropriate found to cover the first payment of the bond interest which is due on December 31.
The NONERECIPROCAL TRANSFER -In to debt service is???How much?
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