A small village (which keeps its records on a calendar-year basis) issued $1 million of bonds on April 1, 2012

The first payment of principal was due April 1, 2013, but interest at 6 percent per annum on the outstanding debt was due on October 1, 2012 and April 1, 2013 . How much interest expenditure (expense) should the village recognize in its governmental fund and government-wide financial statements for the calendar year 2012?
Fund Government-wide
Statements Statements
a. $30,000 $30,000
b. $30,000 $45,000
c. $30,000 $60,000
d. $45,000 $45,000

b

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The bullwhip effect is countered by

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