If bonds are sold at a premium to finance a capital project, what important questions arises concerning the premium? Discuss the proper accounting for a bond premium in the capital projects fund, the

If bonds are sold at a premium to finance a capital project, what important questions arises concerning the premium? Discuss the proper accounting for a bond premium in the capital projects fund, the debt service fund, and government-wide statements assuming that the premium must be reserved for debt service.

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