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On March 2, 2020, 20-year, 4 percent, general obligation serial bonds were issued by Mossy County at the face amoun $3,400,000. Interest of 4 percent

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On March 2, 2020, 20-year, 4 percent, general obligation serial bonds were issued by Mossy County at the face amoun $3,400,000. Interest of 4 percent per year is due semiannually on March 1 and September 1. The first principal payment $170,000 is due on March 1, 2021. The county's fiscal year-end is December 31. What amounts are reported as interest in the government-wide financial statements and interest expenditure in the debt service fund for 2020? Interest Expense Interest Expenditure Multiple Choice $113,333.33 $68,000.00 $68,000.00 $113,333.33 Multiple Choice O $113,333.33 $68,000.00 O $68,000.00 $113,333.33 O $113,333.33 $113,333.33 O $113,333.33 $136,000.00

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