The Village of Hawksbill issued $ 4 , 0 0 0 , 0 0 0 in 5
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Question:
The Village of Hawksbill issued $ in percent general obligation, taxsupported bonds on July at A fiscal agent is not used. Resources for principal and interest payments are to come from the General Fund. Interest payment dates are December and June The first of annual principal payments is to be made June Hawksbill has a calendar fiscal year.
A capital projects fund transferred the premium in the amount of $ to the debt service fund.
On December funds in the amount of $ were received from the General Fund and the first interest payment was made.
The books were closed for
On June funds in the amount of $ were received from the General Fund, and the second interest payment $ was made along with the first principal payment $
On December funds in the amount of $ were received from the General Fund and the third interest payment was made also in the amount of $
The books were closed for
Required:
Prepare journal entries to record the events above in the debt service fund.
Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the debt service fund for the year ended December
Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the debt service fund for the year ended December
Related Book For
Essentials of Accounting for Governmental and Not for Profit Organizations
ISBN: 978-1259741012
13th edition
Authors: Paul A. Copley
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