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Accounting

Valencia Village issued the following during the year ended June 30, 2011: (1) $600,000 in bonds for the installation of street lights, to be assessed against properties benefited, but secondarily backed by the village; (2) $800,000 in bonds for construction of a Parks and Recreation Department public golf course to be paid from pledged fees collected from golf course users. How much should be accounted for through debt service funds for payments of principal over the life of the bonds.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M955974

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