Question 14 On January 1, 2020, the Town of Mont issued S 4,000,000 of 4% tax supported bonds. The bonds are dated January 1, 2020 with interest payment dates of June 30 and December 31. The first of 10 annual principal payments is due on December 31, 2020. The bonds were sold at a $38,400 premium that was transferred to the Debt Service Fund from the capital projects fund to be used to fund the first payment. Cash sufficient to cover interest and principal payments for the year less the premium is transferred from the General Fund on June 1st. Required: Record entries to be made by the Debt Service Fund for the bond issued for the year 2020.

Question 14 points On January 1, 2020. the Town of Mont issued 4.000.000 of tax supported bonds. The bands are dated January 1, 2020 with interest payment dates of june 30 and December 31. The first of 10 annual principal payment is due on December 31, 2020. The bonds were sold 538.400 prerum that was transferred to the Debt Service Fund from the capital projects fund to be used to find the first payment Cash sumie to cover interest and principal payments for the yearless the premium is transferred from the General Fund on June 186 Required Record al entries to be made by the Debt Service Fund for the bond sued for the year 2000 Question 14 points On January 1, 2020. the Town of Monte 4.000.000 of 4 tax supported bonds. The bonds are dated January 1, 2020 with interest payment dates of June 30 and December 31. The first of 10 annual principal payment is due on December 31, 2020. The bonds were soldata 1.38.000 premium that was transferred to the Debt Service und from the capital projects fund to be used to find the first payment Cash sufficient to cover interest and principal payments for the years the premium is transferred from the General Pundone in Required Record al entries to be made by the Device Fund for the bond issued for the year 2000