1. Sea - Link Distributors Inc. issues $2,000,000 of 6 percent , semi - annual , 20 - year bonds dated April 30. Record ( a ) the issuance of bonds at par on April 30 and ( b ) the next semi - annual interest payment on October 31 .
2. On February 1 , Lasquiti Logistics Inc. issues 20 - year , 3 percent bonds payable with a matu 3 rity value of $ 10,000,000 . The bonds sell at par and pay interest on January 31 and July 31 and Record ( a ) the issuance of the bonds on February 1 , ( b ) the semi - annual interest payment on July 31 , and ( c ) the interest accrual on December 31 .
3. Saturna Corp. issues 20 - year , 6 percent bonds with a maturity value of $ 5,000,000 on April 30. The bonds sell at par and pay interest on March 31 and September 30. Record ( a ) the issuance of the bonds on April 30 , b ) the payment of interest on September 30 , and ( c ) the accrual of interest on December 31 .
4. On April 1 Avalon Inc. issued 20 - year , 3.5 percent bonds with a maturity value of $ 5,000,000 . The bonds sell at 98.00 and pay interest on September 30 and March 31. Avalon Inc. amor tizes bond discounts by the straight - line method . Record ( a ) the issuance of the bonds on April 1 , ( b ) the semi - annual interest payment on September 30 , and ( c ) the interest accrual on December 31
5. Lafayette Corp. issues $ 1,500,000 of 20 - year , 8 percent bonds on February 1 , 2017. The bonds sell at 102.00 and pay interest on January 31 and July 31. Assume Lafayette Corp. amor tizes the premium by the straight - line method . Record ( a ) the issuance of the bonds on February 1 , ( b ) the payment of interest on July 31 , ( c ) the accrual of interest on December 31 , and ( d ) the payment of interest on January 31 , 2018 .
6. Refer to the data for Saturna Corp. in Q 3 . If Saturna Corp. issued the bonds on June 30 , how much cash would Saturna Corp. receive upon issuance of the bonds ?