On January 1, 2026, First Street Sales issued $23,000 in bon…
On January 1, 2026, First Street Sales issued $23,000 in bonds for $18,700. These are 6-year bonds with a stated interest rate of 10% that pay semiannual interest. First Street Sales uses the straight-line method to amortize the Bond Discount. Immediately after the issue of the bonds, the ledger balances appeared as follows:After the first interest payment on June 30, 2026, what is the balance of Discount on Bonds Payable? (Round any intermediate calculations to two decimal places and final answer to the nearest dollar.)