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Saitu village reported outstanding long term bonds payable

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SaiTu Village reported outstanding long term bonds payable of $ 6,000,000 in the governmental activities column of its government wide statement of net position for the year ended December 31, 2013. During 2014, SaiTu Village sold $ 500,000 of new general obligation bonds and redeemed $ 300,000 of bonds outstanding at the beginning of the year. Prepare journal entries needed to adjust SaiTu fund financial statements so government wide statements can be prepared for the year ended December 31, 2014.

Reference no: EM13872564

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