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The Village of Magnolia is preparing its government-wide financial statements from its fund financial statements. The Village records an outstanding Bond Liability with a
The Village of Magnolia is preparing its government-wide financial statements from its fund financial statements. The Village records an outstanding Bond Liability with a book value of $15,000 at the beginning of the year that requires a principal payment of $600 per year. Its records also indicate that it borrowed $4,000 on new Bonds during the year. What is the amount of the Bond Liability that the Village will report on its government-wide financial statements? O $18,400 O $15,000 O $19,600 O $11,600
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