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On January 1, 2020, Windsor Inc. issued $560,000 of 5-year, 4% bonds to yield a market interest rate of 5%. Interest is paid every quarter
On January 1, 2020, Windsor Inc. issued $560,000 of 5-year, 4% bonds to yield a market interest rate of 5%. Interest is paid every quarter on January 1, April 1, July 1, and October 1. Windsor has a calendar year end.
After recording the December 31, 2021 accrual for quarterly interest, and making the payment on January 1, 2022, all the bonds were redeemed at 101.
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