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A city issues that $20million of general obligation bond to improve its streets and roads.In accordance...

A city issues that $20million of general obligation bond to improve its streets and roads.In accordance with the bond convenants it committen $1million to help ensure that it is able to meet its first payment of principal and $100,000 for its first payment of interest.The amount of liability that the city should report in its debt service fund is_________?

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$0 is the amount that is to be reported as the liability that the city should report in its debt service fund.

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