Question: On April 1 , 2 0 2 5 , the City of Johnson issued 5 % general obligation serial bonds in the amount of $

On April 1,2025, the City of Johnson issued 5% general obligation serial bonds in the amount of $2,000,000 at 102( $2,040,000) and used $1,990,000 of the proceeds to construct a fire station, which was completed on December 31,2025. The $40,000 premium was transferred to a debt service fund. The $10,000 left in the capital projects fund at the end of the project was transferred to the debt service fund. The bonds were dated April 1,2025 and pay interest on October 1 and April 1. The first of 10 equal annual principal payments is due on April 1,2026.
The amount of capital outlay expenditures reported by the capital projects fund would be:
$1,990,000.
$2,010,000.
$2,030,000.
$2.000,000
On April 1 , 2 0 2 5 , the City of Johnson issued

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