Business, 18.08.2019 02:10 babygirltori21538

Salt city issued $5 billion of bonds at face value to fund the reconstruction of the major interstate highways in and around their city. the bond underwriters withheld $2 million for underwriting fees and remitted the balance to the city. assuming the city maintains its books and records in a manner that facilitates the preparation of fund financial statements, how would the underwriting fee be accounted for in the capital projects fund? reduce other financing sources by $2 million. reduce bonds payable by $2 million. increase expenditures by $2 million. it would not be accounted for in the capital projects fund.

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Salt city issued $5 billion of bonds at face value to fund the reconstruction of the major interstat...

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