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Prepare the required journal entry in the capital projects

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Reference no: EM132092286

Question - A $910,000 bond was issued on October 1, 2013 to build a new road. The bonds carried a 6% interest rate and are due in 10 years.

Required:

(A) Prepare the required journal entry in the Capital Projects Fund on October 1 for the Fund Financial Statements.

(B) Prepare the required journal entry for the Government-Wide Financial Statements.

Reference no: EM132092286

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