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**Ignore the blue shade, this was my guess**. Please provide accurate answer with explanation ASAP On October 1, 2019, the City of Mizner issued $6,000,000
**Ignore the blue shade, this was my guess**. Please provide accurate answer with explanation ASAP
On October 1, 2019, the City of Mizner issued $6,000,000 in 4%, general obligation bonds at 101 for the purpose of constructing an addition to City Hall. The premium was transferred to a debt service fund. A total of $5,968,750 was used to construct the addition, which was completed prior to June 30, 2020. The remaining funds were transferred to the debt service fund. The bonds were dated October 1, 2019, and paid interest on April 1 and October 1. The first of 20 annual principal payments of $250,000 is due October 1, 2020. The fiscal year for Mizner is July 1- June 30. How would the government account for the unused bond proceeds? Multiple Choice As a revenue in the debt service fund and as an expenditure in the capital projects fund. As an other financing source in the govemment-wide Statement of Activities. As an other financing source in the debt service fund and as an other financing use in the capital projects fund. As an other financing source in the capital projects fund and as an other financing use in the debt service fundStep by Step Solution
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