The government issues the bonds described in question 2. It makes its first semi

Question

The government issues the bonds described in question 2. It makes its first semiannual interest payment of $30,000. How much interest expense/expenditure would it likely have to report in its government-wide and governmental fund statements? a. b. c. d. Government-Wide Fund $30,000 $30,160 $30,160 $30,160 $30,000 $30,160 $

kindly note Question # 2 as below

A government issues $1 million in 30-year, 6 percent coupon bonds at a discount of $27,092. The bonds were sold to yield 6.2 percent. At what amount would the bonds be reported (net) in the govern-ment-wide statement of net position and governmental fund balance sheet immediately upon issuance?

Explanation / Answer

Interest = $30,160.

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