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On July 1,20X1, Arundel County issued 5 year long-term bond of $5 million and incurred the issue costs of $300,000. Arundel County has established a

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On July 1,20X1, Arundel County issued 5 year long-term bond of $5 million and incurred the issue costs of $300,000. Arundel County has established a debt service fund for the payment of interest and principal of its long-term bonds. What amount of bond payable net of issue cost should be reported on the governmental funds' balance sheet at December 31,201? \begin{tabular}{|l|l|} \hline & $0 \\ \hline & $4,700,000 \\ \hline & $4,730,000 \\ \hline & $4,760,000 \\ \hline \end{tabular} In which of the following fund types of a local government are revenues and expenditures recognized on the same basis of accounting as the general fund? Private purpose trust fund Enterprise fund Agency fund Capital project fund

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