What effect do interest payment have on the carrying value

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Reference no: EM132721526

This year, Temp County issued $3,00,000 in general obligation term bonds for 102. The County is required to use any accrued interest or premiums for servicing the debt issue.

Problem 1: How would the bond issue be recorded at the fund and government-wide levels?

Problem 2: How would the bond issue reported in the fund financial statements and the government-wide financial statements?

Problem 3: What effect, if any do interest payment have on the carrying value of the bond issue as reported in the financial statements?

Reference no: EM132721526

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