So $ 3M is coming from Debt Service ( i am thinking this would be that inter transfer thingy or somethings but it won't be revenues for Capital funds) and $ 1 M General funds… this I am not sure … would it be $ 1 M that is considered revenue .. Hmmmm….
On March 1, Wag City issued $1,000,000, 10-year, 6% general obligation bonds at par with no bond issue costs. The bonds pay interest September 1 and March 1. What amount of interest expense and bond interest payable should Wag report in its debt issue fund at the close of the fiscal year on December 31?
I find with Governmental, it's all about repetition. It's more concept base than anything, so for me, I understand more of it because I force it into the left hand corner of my brain.. I have cartridges in my brain for all the other topics so i decided to put governmental there. haha
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