s) Journalize the transactions. lonJuly 1, Seward Company issued 3,500,000 of 20-year, 8% callable bonds, with interest payable on June 30 & December 31. The fiscal year of the company is the calendar year. Year 1: July 1: Issued the bonds for cash at their face amount. Dec. 31: Paid the interest on the bonds. Year 5: Called the bond issue at 98, the rate provided in the bond indenture. Page 24 Credit Journal Debit Date Description