Swenson Township issued $5,000,000 of 10-year, 6% bonds on July 1, 20X8. Bond issue costs of $93,000

Question:

Swenson Township issued $5,000,000 of 10-year, 6% bonds on July 1, 20X8. Bond issue costs of $93,000 were incurred. The bonds were issued to finance a courthouse expansion.

Required
Record the bond issue in the Capital Projects Fund under each of the following three assumptions:
(a) The bonds were issued at par.
(b) The bonds were issued at a 3% premium.
(c) The bonds were issued at a 2% discount.