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On January 1, 2012, Solis Co. issued its 10% bonds in the face amount of...

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Accounting

On January 1, 2012, Solis Co. issued its 10% bonds in the face amount of $4,000,000, which mature on January 1, 2022. The bonds were issued for $4,540,000 to yield 8%, resulting in bond premium of $540,000. Solis uses the effective-interest method of amortizing bond premium. Interest is payable annually on December 31. What is Solis adjusted unamortized bond premium on December 31, 2012?

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