Kayla Township Issued the Following Bonds During the Year

Kayla Township issued the following bonds during the year: a. The amount of debt reported in the Township's general fund is:
1. $0
2. $9,000,000
3. $11,000,000
4. $15,800,000
b. The township should report depreciation expense on related new capital assets in:
1. General fund
2. Enterprise fund
3. Enterprise and internal service funds
4. Capital projects fund
c. The bonds issued to construct the new police station should be reported as:
1. Debt proceeds in the general fund
2. Long-term debt in a debt service fund
3. Debt proceeds in a capital projects fund
4. None of the above
d. In accordance with bond covenants the township sets aside $1,000,000 to help ensure that it is able to meet its first payment of principal and interest on the police station debt due one year from the date the bonds were issued. The amount of liability that the township should report in its debt service fund is:
1. $0
2. $1,000,000
3. $9,000,000
4. $8,000,000