on july 1,2007 laket equipment inc issued 12,500000 of 10 year ,,11% bonds at an effective interset rate of 12% .intersest bonds is payable in…

on july 1,2007 laket equipment inc issued 12,500000 of 10 year ,,11% bonds at an effective interset rate of 12% .intersest bonds is payable in semianually on december 31 and june 30. the fiscal year of the company is the calendar year