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Required information [The following information applies to the questions displayed below.] As...

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Accounting

Required information
[The following information applies to the questions displayed below.]
As of December 31,2022, Sandy Beach had $9,500,000 in 3 percent serial bonds
outstanding. Cash of $509,000 is the debt service fund's only asset as of December
31,2022, and there are no liabilities. The serial bonds pay interest semiannually on
January 1 and July 1, with $500,000 in bonds being retired on each interest payment
date. Resources for payment of interest are transferred from the General Fund, and
the debt service fund levies property taxes in an amount sufficient to cover principal
payments.
sired
epare a statement of revenues, expenditures, and changes in fund balances for the debt sen
nd for the year ended December 31,2023.
Answer is not complete.
SANDY BEACH
Debt Service Fund
Answer is not complete.
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