A village issues $$3,000,000of$ general obligation bonds $to$ build a new firehouse. How should the debt $be$ reported?

Select one:

$a.$

$As$ a liability $in$ the government$-$wide statement $of$ net position

$b.$

$As$ a liability $in$ the fund balance sheet

$c.$

$As$ proceeds $of$ debt $in$ the government$-$wide statement $of$ activities

$d.$

$As$ a liability $in$ both the fund balance sheet and the government$-$wide statement $of$ net position