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Bonita ltd issued $ 5 , 0 0 0 , 0 0 0 of 1 0 - year , 6 % bonds on January 1

Bonita ltd issued $5,000,000 of 10-year ,6% bonds on January 1,2024, when the market interest rate was 7%. Bonita received $4,644,710 when it issued these bonds. Interest is payable semi-annually on July 1 and January 1. Bonita has a December 31 year end. Record the journal entry for the payment of interest on January 1,2025

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