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The City of Southern Pines incurred debt service expenditures in the amount of $150,000 of bond discounts amortized, payments related to principal $1,200,000 and $1,500,000

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The City of Southern Pines incurred debt service expenditures in the amount of $150,000 of bond discounts amortized, payments related to principal $1,200,000 and $1,500,000 related to interest. Interest incurred on the accrual basis but not due at the end of the year was calculated at $102,500. (3 entries - 5 points)

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