2. What is the amount of the discount on the bonds at January 1, 2018?

Amount of Discount =____________

Required information The following information applies to the questions displayed below.] On January 1, 2018, Shay issues $400,000 of 10%, 12-year bonds at a price of 9775, Six years later, on January 1, 2024. Shay retires 25% of these bonds by buying them on the open market at 104.75. All interest is accounted for and paid through December 31, 2023, the day before the purchase. The straight-line method is used to amortize any bond discount. 1. How much does the company receive when it issues the bonds on January 1, 2018? proceeds from sale of bonds at issuance