On June 1, 20W3, a government issued $300,000 par value of 20-year term general obligation sinking fund

Question:

On June 1, 20W3, a government issued $300,000 of 20-year term general obligation sinking fund bonds. Only $50,000 had been accumulated in the Debt Service (Sinking) Fund by the date of May 30, 20Y4, the end of the unit’s fiscal year. Also, it was not possible to retire the bonds using resources of other funds during that year. Should the matured bonds be reported in the General Fund or in the Debt Service Fund, or should they continue to be accounted for in the General Long-Term Liabilities accounts? Why?

Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...