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I need the work and answers for #2. I have posted this question already and have yet to receive an answer for question #2 QUESTION
I need the work and answers for #2. I have posted this question already and have yet to receive an answer for question #2
QUESTION ONE: (10 points) Our governmental tax-exempt organization issued bonds in 2020. In 2020, we collected $5,100,000 in cash but the bond issue was only for $5,000,000. a) What amount will be shown in the capital projects fund's statements for 2020? b) What amount will be shown in the debt service fund's statements for 2020? c) What amount will be shown in the government-wide statements for 2020? d) Make all necessary entries for the above. QUESTION TWO:_(10 points) Same facts as above, but now we are paying back. We paid $500,000 in principal and $45,000 in interest. We figured that the extra amount ($100,000) amortizes over ten years on straight line rate: a) What amount will be shown in the capital projects fund's statements for 2021? b) What amount will be shown in the debt service fund's statements for 2021? c) What amount will be shown in the government-wide statements for 2021? d) Make all necessary entries for the aboveStep by Step Solution
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