General obligation bonds, fixed asset construction. Select the best response for each of the following multiple-choice questions that refer to the transactions of Beloit City. (No. 4 is AICPA...

General obligation bonds, fixed asset construction. Select the best response for each of the following multiple-choice questions that refer to the transactions of Beloit City. (No. 4 is AICPA adapted.)

On March 2, 2018, Beloit City issued 10-year general obligation bonds at face amount, with interest payable on March 1 and September 1. The proceeds were to be used to finance the construction of a civic center over the period of April 1, 2018, to March 31, 2019. During the fiscal year ended June 30, 2018, no resources had been provided to the debt service fund for the payment of principal and interest.