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What would the capital projects fund liability for the note

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Question - The city of Bamberg, which has a fiscal year end of December 31, issued a nine month $1,000,000 bond anticipation note on July 1. The city is planning to renew or re-issue the bond anticipation notes for another six month period when they mature. What would the Capital Projects Fund liability for the note be on December 31?

A) $600,000

B) $0

C) $2,000,000

D) $1,000,000

E) $900,000

Reference no: EM131826407

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