Spring Water Company Ltd. needed to raise $68 million of additional capital to finance the expansion of its bottled water facility. After consulting an investment banker, it decided to issue bonds. The bonds had a face value of $68 million and an annual interest rate of 4.5%, paid semi-annually on June 30 and December 31, and will reach maturity on December 31, 2030. The bonds were issued at 96.1 on January 1, 2021, for $65,348,000, which represented a yield of 5%.

What amount will be reported on the statement of financial position at the end of the first year related to these bonds? (Round answers to 0 decimal places, e.g. 125.)

Notes Payable

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