What will be the balance in the discount account

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Reference no: EM133379020

Question: On Jan. 1, 2016, EmmaLeigh Sales issued $15,000 in bonds for $14,700. They were six-year bonds with a stated rate of 9% and they pay semiannual interest. Emmalegh sales used the straight-line method to amortize the bond amount. Immediately after the issue of the bonds, the ledger balances appeared as follows:

Bonds payable: 15,000

Discount on bonds payable 300

On December 31 2017, after EmmaLeigh Sales makes the payment to bondholders. What will be the balance in the discount account?

Reference no: EM133379020

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