Please help me find ANSWER part A,B,C Interest expense adjustments for government-wide financial...

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Accounting

Please help me find ANSWER part A,B,C

Interest expense adjustments for government-wide financial statements

Mike Village sold $2,200,000 of general obligation bonds on October 1, 2021, maturing at the rate of $220,000 every 6 months starting April 1, 2022, and paying interest at the rate of 4 percent per annum on the unpaid balance. Use the above information to calculate the following:

2021 2022
a) Interest expenditure reported in the
governmental fund statement of revenues,
expenditures, and changes in fund balance 0 Answer
B) Interest expense reported in the
government-wide statement of
activities Answer Answer

c) Prepare the journal entries needed to adjust the fund statements so government-wide statements can be prepared. If no entry is necessary, select 'No debit (or credit) entry needed' in the account fields and enter 0 in the amount fields.

Account Debit Credit
Accrued interest payableInterest expense Net positionNo debit entry neededNo credit entry needed Answer
Accrued interest payableInterest expense Net positionNo debit entry neededNo credit entry needed Answer
To record adjustment for 2021 activity.
Accrued interest payableInterest expense Net positionNo debit entry neededNo credit entry needed Answer
Accrued interest payableInterest expense Net positionNo debit entry neededNo credit entry needed Answer
To record adjustment for 2022 activity.

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