Question 5 Which of the following is not a characteristic of a serial bond? Used more frequently than term bonds for municipal financing Principal matures in regular installments (annual/semiannual/etc) O Usually does not require a sinking fund Principal matures in one lump sum at the end of the bond term Question 4 1 pts The city of Muncie, Indiana fiscal year ends on December 31. On September 1, 2017 the city issued $1,000,000 of 6%, 10-year term bonds with semi-annual interest payments due on March 1 and September 1 each year, beginning on March 1, 2018. What amount of expenditures should the city recognize in its debt service fund for the years 2017 and 2018? $30.000 in 2017: $60.000 in 2018 $60.000 in 2017 $60.000 in 2018. $3.000 in 2017: $6.000 in 2018 So in 2017. 560.000 in 2018 Question 8 1 pts Where are general long-term liabilities reported (as opposed to the current interest and principal payments) Debt Service Fund Governmental Activities column of the Government-Wide Statement of Net Assets Whatever governmental fund is associated with the debt Capital Projects Fund that is associated with the debt