A government has outstanding bonds payable. Interest is payable on a date other than the fiscal year-end.

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A government has outstanding bonds payable. Interest is payable on a date other than the fiscal year-end. What is the appropriate method of accounting for interest accruals by debt service funds?

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Essentials of Accounting for Governmental and Not for Profit Organizations

ISBN: 978-1259741012

13th edition

Authors: Paul A. Copley

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Question Posted: Apr 18, 2017 12:21 PM

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A government has outstanding bonds payable. Interest is payable on a date other than the fiscal year-end.

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The general rule is that interest on longterm debt is not accrued it is recog...View the full answer

Essentials of Accounting for Governmental and Not for Profit Organizations

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