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On july 1 2012 a current refunding took place in which

Question - The Town of McHenry has $6,000,000 in general obligation bonds outstanding and maintains a single debt service fund for all debt service transactions.

On July 1, 2012, a current refunding took place in which $6,000,000 in new general obligation bonds were issued. Record the transaction on the books of the debt service fund.

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Accounting Basics: On july 1 2012 a current refunding took place in which

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