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A Government issued $10,000,000 of general government, general obligation, 5%, 30 year bonds at 3%...

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Accounting

A Government issued $10,000,000 of general government, general obligation, 5%, 30 year bonds at 3% premium on July 1, 20X7 to finance the
construction of a new building. Interest is payable semiannually on each Jan 1 and Jul 1. Principal in the amount of $200,000 matures on each Jul 1. If the
Governments fiscal year ends June 30,20X8, what amount of debt service expenditures should be reported for 20X8 fiscal year?
$0
$450,000
$250,000
$200,000

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