Swenson Township issued $5,000,000 of 10-year, 6% bonds on July 1, 20X8. Bond issue costs of $93,000
Question:
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.
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a Cash 5000000 93000 4907000 Expenditures x Bond Issue Co...View the full answer
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Related Book For
Governmental and Nonprofit Accounting
ISBN: 978-0132751261
10th edition
Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi
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