Six Years Ago Hill City Issued $10 Million of 6

Six years ago Hill City issued $10 million of 6 percent term bonds, due 30 years from the date of issue.Interest on the bonds is payable semi-annually on January 1 and July 1.Hill City has a September 30 fiscal year-end.The amount of interest payable that should be included on the balance sheet for the debt service fund of Hill City at September 30 is

A) $ -0-.
B) $150,000.
C) $300,000.
D) $600,000.
Use the following information to answer questions 20 and 21.
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.