The City of Newport issued 1,500,000 of general obligation ...

[sammy]

The City of Newport issued 1,500,000 of general obligation refunding bonds at a 2 premium. Bond issuance costs of 15,000 were incurred. The proceeds, net of the premium and bond issue costs, are being used to refund the outstanding bonds.
 
  Debt Service Fund Expenditures will be debited for
  A. 15,000.
  B. 30,000.
  C. 1,455,000.
  D. 1,470,000.

Question 2

A customer is an example of an internal entity.
  Indicate whether the statement is true or false

[fauacakatahaias]

Answer to Question 1

A

Answer to Question 2

F