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The debt service fund for the City of Southern Pines during the year had interest incurred on the accrual basis but not due at year-end

The debt service fund for the City of Southern Pines during the year had interest incurred on the accrual basis but not due at year-end of $175,000. Principal paid on outstanding bond obligations amount to $2,195,000 and interest incurred was $747,000. Also, bond discount amortization was incurred in the amount of $118,000. 3 entries

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