On October 1, 2018, the Central School District issued $20 million of 6 percent bonds at par to construct a new junior high school. The first interest payment of $600,000 is due on March 31, 2019. In December 2018 the district transferred $600,000 from its general fund to a debt service fund to cover the March 2019 interest payment. How much interest expense/expenditure should the district recognize for 2018 in its
1. general fund? ____________
2. debt service fund? ____________
3. government-wide statements? _____________

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The Answer of On October 1, 2018, the Central School District issued $20 million of 6 percent bonds at par to construct a new junior high school. The first interest payment of $600,000 is due on March 31, 2019. In December 2018 the district transferred $600,000 from its general fund to a debt service fund to cover the March 2019 interest payment. How much interest expense/expenditure should the district recognize for 2018 in its
1. general fund? ____________
2. debt service fund? ____________
3. government-wide statements? _____________

On October 1, 2018, the Central School District Issued $20