E10-11 Recording Bond Issue and First Interest Payment with Premium (Effective-Interest Amorti On January 1, 2018, Bochini Corporation sold a $10 million, 8.25 percent bond issue. The bonds were dated January 1, 2018, had a yield of 8 percent, pay interest each December 31, and mature 10 years from the date of issue. Use Table 9C.1, Table 9C.2 3. Show how the bond interest expense and the bonds payable should be reported on the annual financial statements for 2018. (Enter your answers in dollars not in millions rounded to the nearest whole dollar.) BOCHINI CORPORATION Financial Statements For year ended December 31, 2018 Statement of earnings: Bond interest expense $ 813,427 Statement of financial position Long-term liabilities: Bonds payable Plus: Unamortized premium $ 10.000.000 (179,406) $ 9,820,594