Lyndhurst company,inc_redemption of bonds payable
On January 2, Year 1 the Lyndhurst Company,Inc. a privately-held company, issued $1,000,000, five –year , 10.00% bonds, dated January 2, Year 1. The bonds provided for semi-annual interest payments to be made on June 30 and December 31 each year. Terms of the bond indenture allowed the company to call the bonds at 102 after one year. The bonds were issued when the market […]