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Use the following information to answer questions
Several years ago, the City of Russell issued $7 million of 6% 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, 2011, 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 would be included on the balance sheet for the debt service fund of the City of Russell at June 30, 2011 would be

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Definitions:

Right Of Way

The Right of Way refers to the legal right, established by usage or grant, to pass along a specific route through grounds or property belonging to another.

Life Estate

A property interest held by an individual only for the duration of their life, after which the property reverts to another designated person or entity.

Environmental Offences

Violations of laws designed to protect the environment, including pollution, illegal dumping, and destruction of natural habitats.

Cleanup Orders

Legal directives requiring individuals or businesses to remove environmental contamination from a property.

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