Several years ago, the City of Russell issued $7 million of 6 percent serial bonds at 101. Principal payments of $350,000 are due each June 30 for 20 years. Interest on the bonds is payable each December 31 and June 30. As of June 30, 2015, the city has not paid the June 30 principal and interest payment. The amount of interest payable (assuming an outstanding balance of $4,000,000 of bonds) that should be included on the balance sheet for the debt service fund of the City of Russell at June 30, 2015 is how much?

The company is experiencing an increase in competition, and at the same time they are building more production facilities in southeast asia. in this scenario, the top management team is most likely to multiple choice increase the cost of their products. restructure to reflect a more bureaucratic, stable organization. pull decision-making responsibility from low-level management, taking it on themselves. give lower-level managers the authority to make decisions to benefit the firm. rid themselves of all buffering product.