On january 1, 2019, burton sales issued $23,000 in bonds for $35,800. these are eight-year bonds with a stated rate of 9% and pay semiannual interest. burton sales uses the straightminus-line method to amortize the bond premium. immediately after the issue of the bonds, the ledger balances are as follows: bonds payable 23,000 premium on bonds payable 12,800 after the first interest payment on june 30, 2019, what is the balance of premium on bonds payable? (round your intermediate answers to the nearest dollar.)

premium on bonds payable 12,000

Explanation:

proceeds:   35,800

face value (23,000)

premium     12,800

Amortization on premium under straight-line method:

It will be the same for each payment. It will be equally distributed among the interest payment.

premium / total payment

12,800 / 16 = 800 amortization per payment

June 30th, 2019

the premium takes an amortization for 800

so their balance is 12,800 - 800 = 12,000

it is a i took the test.

answer; because of bogus job sites,never share your dob on social media or job site,don't provide your s/s number on a web site;