Question
On March 2, 2017, 20-year, 8 percent, general obligation serial bonds were issued by Mossy County at the face amount of $2,000,000. Interest of 8
On March 2, 2017, 20-year, 8 percent, general obligation serial bonds were issued by Mossy County at the face amount of $2,000,000. Interest of 8 percent per year is due semiannually on March 1 and September 1. The first principal payment of $100,000 is due on March 1, 2018. The countys fiscal year end is December 31. What amounts are reported as interest expense in the government-wide financial statements and interest expenditure in the debt service fund for 2017? Interest expense Interest expenditure $133,333.33 $133,333.33 $133,333.33 $160,000.00 $133,333.33 $80,000.00 $80,000.00 $133,333.33
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