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On January 1, 2024, Bonita Industries issued eight-year bonds with a face value of $5550000...

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Accounting

On January 1, 2024, Bonita Industries issued eight-year bonds with a face value of $5550000 and a stated interest rate of 4%, payable semiannually on June 30 and December 31. The bonds were sold to yield 6%. Table values are: Present value of 1 for 8 periods at 4% 0.73069 Present value of 1 for 8 periods at 6% 0.62741 Present value of 1 for 16 periods at 2% 0.72845 Present value of annuity for 8 periods at 4% 6.73274 Present value of annuity for 8 periods at 6% 6.20979 Present value of annuity for 16 periods at 2% 13.57771 Present value of annuity for 16 periods at 3% 12.56110

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