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A government has $1,000,000 of 6%, 10-year general obligation bonds outstanding.

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A government has $1,000,000 of 6%, 10-year general obligation bonds outstanding.

A government has $1,000,000 of 6%, 10-year general obligation bonds outstanding. The bonds were issued on November 1, 20X7 to finance construction of a general capital asset. Interest is payable semiannually on November 1 and May 1. The bonds also require an annual principal payment of $100,000 on May 1. What amount of debt service expenditures should the government report for the year ended December 31, 20X8?
A.   $60,000.
B.   $90,000.
C.   $160,000.
D.   $190,000.

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Diesel

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f_zah1

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goji.go Author

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9 years ago

Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth

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Diesel

f_zah1

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9 years ago

You're very welcome!

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