On March 2, 2023, 20-year, 3 percent, general obligation serial bonds were issued by Mossy County at the face amount of $3,000,000. Interest of 3 percent per year is due semiannually on March 1 and September 1. The first principal payment of $150,000 is due on March 1, 2024. 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 2023?

The answer given is 3,000,000 x.03 x 10/12 = $75,000 for interest expense and 3,000,000 x.03 x 6/12 = $45,000 for interest expenditure. Why is interest expenditure only 6 mos of interest when 10 months of the year remain?