On January 1, 2017, Streuly Sales issued $34,000 in bonds for $18,700. These are six−year bonds with a stated rate of 9% and pay semiannual interest. Streuly Sales uses the straight−line method to amortize the Bond Discount. Immediately after the issue of thebonds, the ledger balances appeared as follows:

Bonds Payable
34,000
Discount on Bonds Payable
15,300

After the second interest payment on December 31, 2017, 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.)

A. debit of $14,025
B. debit of $16,575
C. credit of $15,300
D. debit of $12,750

$12,750.

Explanation:

Since Streuly Sales uses the straight−line method to amortize the Bond Discount, the annual discount on bonds payable can be calculated as follows:

Annual discount on bond payable = Discount on Bonds Payable ÷ Bodn duration = 15,300 ÷ 6 = 2,550

Since the interest is paid semiannually, it means the discount on bond will also be paid semiannually as calculated below:

Semiannual discount on bond payable = 2,550 ÷ 2 = $1,275

As two will be paid during 2017, one on June 30 and another on December 31, the the balance of Discount on Bonds Payable after the second interest payment on December 31, 2017 is calculated as follows:

Balance of Discount on Bonds Payable = $15,300 - (1,275 * 2) = $12,750

Therefore, the the balance of Discount on Bonds Payable after the second interest payment on December 31, 2017 is $12,750.

answer; offer in store wine and beer samples;

the correct answer is - no.

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