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On January 1, 2018, Bonita Industries issued its 11% bonds in the face amount of $8090000, which mature on January 1, 2028. The bonds were
On January 1, 2018, Bonita Industries issued its 11% bonds in the face amount of $8090000, which mature on January 1, 2028. The bonds were issued for $9520000 to yield 9%, resulting in bond premium of $1430000. Bonita uses the effective-interest method of amortizing bond premium. Interest is payable annually on December 31. At December 31, 2018, Bonita's adjusted unamortized bond premium should be
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