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Question - On April 1, 2020, the City of Southern Ponds issued $5,000,000 in 4% general obligation, tax supported bonds at 101 for the purpose of constructing a new police station. The premium was transferred to a debt service fund. A total of $4,990,000 was used to construct the police station, which was completed before December 31, 2020, the end of the fiscal year. The remaining funds were transferred to the debt service fund. The bonds were dated April 1, 2020, and paid interest on October 1 and April 1. The first of 20 equal annual principal payments of $250,000 is due April 1, 2021.
Required - What amount would be reported as debt service expenditures for the year ended December 31, 2021?
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tony touchdown is offered an athletic scholarship at state university which will pay fully for his tuition fees books
For 20X2, Boswell reported earnings of $90,000 and paid cash dividends of $35,000. Determine the amount of intra-entity profit at the end of 20X2
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