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In the current fiscal year, St. George County issued $3,000,000 in general obligation term bonds for 102. The county is required to use any accrued interest or premiums for servicing the debt issue. What effect, if any, do interest payments have on the carrying value of the bond issue as reported in the financial statements?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9445363

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