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dated January 1, 2014, and pay interest on June 30 and
December 31. What is the total cash received on the issue date?

11) Where is debt callable by the creditor reported on the
debtor's financial statements?

12) Sawyer Company self-insures its property for fire and storm
damage. If the company were to obtain insurance on the
property, it would cost them $1,500,000 per year. The company
estimates that on average it will incur losses of $1,200,000 per
year. During 2014, $525,000 worth of losses were sustained.
How much total expense and/or loss should be recognized by
Sawyer Company for 2014?