A governmental entity issues 3,000,000 of general obligation ...

[mpobi80]

A governmental entity issues 3,000,000 of general obligation bonds at a 1 premium to finance the construction of a new public safety center. The entry to record the bond issuance in the Debt Service Fund would be
 
   dr cr
 
  a. Cash 3,000,000 Other Financing Sources  Bonds 3,000,000
  b. Cash 3,030,000 Other Financing Sources  Bonds 3,000,000 Other Financing Sources  Premium 30,000
  c. Cash 3,000,000 Expenditures 30,000 Other Financing Sources  Bonds 3,000,000
   Other Financing Sources  Premium 30,000
  d. Cash 3,030,000
   Bonds Payable 3,030,000
  e. None of the above.

Question 2

Operating Expenses consist of
 a. Interest Expense and General Expenses.
  b. Selling Expenses and Cost of Goods Sold.
  c. Interest Expense and Selling Expenses.
  d. General Expenses and Selling Expenses.
  e. Interest Expense and Cost of Goods Sold.

[SVictor]

Answer to Question 1

E

Answer to Question 2

D

[mpobi80]

Thank you

[SVictor]

Happy to help you