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On July 1, 2017, Waubonsee Ltd. issued $3.2 million of 10-year, 6% bonds at $3,449,427. This price resulted in a market interest rate of 5%.

On July 1, 2017, Waubonsee Ltd. issued $3.2 million of 10-year, 6% bonds at $3,449,427. This price resulted in a market interest rate of 5%. The bonds pay semi-annual interest on July 1 and January 1, and Waubonsee has a December 31 year end.

1) Record the accrual of interest at December 31, 2017, and the payment on January 1, 2018.

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