A $910,000 bond was issued on October 1, 2018 to build a new road.The bonds carried a 6% interest rate and are due in 10 years.
Required:
(A.) Prepare the required journal entry in the capital projects fund on October 1 for the governmental fund financial statements.
(B.) Prepare the required journal entry for the government-wide financial statements.

Question

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The Answer of A $910,000 bond was issued on October 1, 2018 to build a new road.The bonds carried a 6% interest rate and are due in 10 years.
Required:
(A.) Prepare the required journal entry in the capital projects fund on October 1 for the governmental fund financial statements.
(B.) Prepare the required journal entry for the government-wide financial statements.

A $910,000 Bond Was Issued on October 1, 2018 to Build