When accounting for interest expenditures through debt service funds,interest is normally recorded as an expenditure when due and payable; it is not accrued at year-end.

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Interest expenditures are typically recorded as they become due and payable, rather than being accrued at year-end. This is because debt service funds are designed to account for the repayment of existing debt, rather than the creation of new liabilities through accruals.

When Accounting for Interest Expenditures Through Debt Service Funds,interest Is