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20 On January 1, 2021, a company issued 12.0% bonds dated...

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Accounting

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On January 1, 2021, a company issued 12.0% bonds dated January 1, 2021, with a face amount of $400,000. The issue price was $346.673. The bonds mature in 20 years. Interest is paid semiannually on June 30 and December 31 Assume that the company uses the straight line interest method What is the balance of the discount account as of June 30, 2021 entry (immediately after the first interest payment)? Click to select) (Click to select $54,850 550,661 551,994 $55.993

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