On January 1,2018,Statewide Sales issued $29,000 in bonds for $20,700.These are six-year bonds with a stated rate of 12% and pay semiannual interest.Statewide Sales uses the straight-line method to amortize the Bond Discount.Immediately after the issue of the bonds,the ledger balances appeared as follows:

Discount on Bonds Payable

After the second interest payment on December 31,2018,what is the balance of Discount on Bonds Payable? (Round any intermediate calculations to two decimal places,and your final answer to the nearest dollar. )

Question

On January 1,2018,Statewide Sales issued $29,000 in bonds for $20,700.These are six-year bonds with a stated rate of 12% and pay semiannual interest.Statewide Sales uses the straight-line method to amortize the Bond Discount.Immediately after the issue of the bonds,the ledger balances appeared as follows:

Discount on Bonds Payable

After the second interest payment on December 31,2018,what is the balance of Discount on Bonds Payable? (Round any intermediate calculations to two decimal places,and your final answer to the nearest dollar. )

Quizplus · Accepted Answer

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On January 1,2018,Statewide Sales Issued $29,000 in Bonds for $20,700