Multiple Choice
Banker County has outstanding $4 million of term bonds that bear interest at 6% payable semiannually each January 30 and July 30.The County's fiscal year-end is 12/31.On December 28, 2011, the County transferred $240,000 to the Debt Service Fund.At December 31, the maximum amount the Debt Service Fund may recognize as interest expenditure is
A) $120,000
B) $240,000.
C) $100,000.
D) $0.
Correct Answer:
Verified
Correct Answer:
Verified
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