Bonds dated June 15th, 2020 are issued on that date. The bonds have a face value (par value) of $1,200,000 and a stated annual interest rate of 6%. The bonds pay interest semiannually, with the first interest payment coming due on December 15th, 2020. Calculate the December 15^th, 2020 interest payment. Also, calculate accrued interest expense (interest incurred but not yet paid) as of December 31^st, 2020.

Refer to Question above. Assume that it is now June 15^th, 2021, and the second interest payment on these bonds must now be paid. How would you record this interest payment within the Debt Service Fund? How would you record this interest payment at the government-wide level? Assume that the bonds still have an outstanding principal balance of $1,200,000.