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On October 2, 2018, the CK School District issued $20 million of 6 percent bonds at...

On October 2, 2018, the CK School District issued $20 million of 6 percent bonds at par to construct a new junior high school. The first interest payment of $600,000 is due March 31, 2019. In December 2018 the district transferred $600,000 from its general fund to a debt service fund to cover the March 2019 interest payment. How much interest expense/expenditure should the district recognize for 2018 in its General Fund, Debt Service Fund and Government-Wide Statements?

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