Part A:
The Sailfish County authorized issuance of $10,000,000, 4 percent regular serial bonds in 20X0 for construction of a new library. The bonds mature in equal amounts beginning January 1, 20X1 for 10 years and pay interest on January 1 and July 1. The county is required to use all accrued interest and premiums to service the debt. The funds to pay the interest will be transferred from the General fund. The county’s fiscal year ends on December 31.
Required:
Submit your responses to the questions in an Excel spreadsheet. Label each question clearly. Include computations in a table and show work.
Part B:
.