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Spiller Corp. plans to issue 6%, 9-year, $550,000 par value bonds payable that pay interest...

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Accounting

Spiller Corp. plans to issue 6%, 9-year, $550,000 par value bonds payable that pay interest semiannually on June 30 and December 31. The bonds are dated December 31, 2019, and are issued on that date. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round your "Table value" to 4 decimal places and final answers to nearest whole dollar.) If the market rate of interest for the bonds is 4% on the date of issue, what will be the total cash proceeds from the bond issue?

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