A water enterprise fund ef issues 4 million of 5 revenue

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A Water Enterprise Fund (EF) issues $4 million of 5% revenue bonds on October 1, 2004. The EF will make its first payment of interest on March 31, 2005, together with a principal payment of $200,000. What, if anything, should the EF report in its Statement of Revenues, Expenses, and Changes in Fund Net Assets for the year ended December 31, 2004?

Reference no: EM13599617

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