The Town of McHenry has $13,000,000 in general obligation bonds outstanding and maintains a single debt service fund for all debt service transactions. On July 1, 2017, a current refunding took place in which $13,000,000 in new general obligation bonds were issued. Record the transaction on the books of the debt service fund.
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The Town of McHenry has $13,000,000 in general obligation bonds outstanding and maintains a single debt service fund for all debt service transactions.
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