Exercise 9-9 Record bonds issued at a premium (LO9-6) The following information applies to the questions displayed below. On January 1, 2018, Splash City issues $500,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 8%, the bonds will issue at $549,482