Seaview Industries received authorization on December 31, Year 1, to issue $7,000,000 face value of 6%, 10-year bonds. The interest payment dates are June 30 and December 31. All the bonds were issued at par, plus accrued interest, April 1, Year 2. The bonds are callable by Seaview Industries at any time at 102.
-Prepare the journal entry to record the first semiannual interest payment on the bonds at June 30, Year 2.

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The Answer of Seaview Industries received authorization on December 31, Year 1, to issue $7,000,000 face value of 6%, 10-year bonds. The interest payment dates are June 30 and December 31. All the bonds were issued at par, plus accrued interest, April 1, Year 2. The bonds are callable by Seaview Industries at any time at 102.
-Prepare the journal entry to record the first semiannual interest payment on the bonds at June 30, Year 2.

Seaview Industries Received Authorization on December 31, Year 1, to Issue