# 28 In 20x1 a city issues $1 million of 10% bonds to fund a capital improvement. The bonds were issued at par value on April 1 . Interest is due every 6 months from the issue date.

What amount of interest expense should be reported in the government-wide financial statements financial statement for the year ended December 31, 20x1

Answer rating: 100% (QA)

To calculate the interest expense for the year ended December 31 20x1 we first need to determine the ... View the full answer