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Farmer Company issues $300,000 of 10-year, 9% bonds on March 1, 2020, at 97 plus accrued interest. The bonds are dated January 1, 2020, and

Farmer Company issues $300,000 of 10-year, 9% bonds on March 1, 2020, at 97 plus accrued interest. The bonds are dated January 1, 2020, and pay interest on June 30 and December 31. The company uses the straight-line method to amortize discounts and premiums. The fiscal year-end is December 31. What is the balance in the Discount on Bonds Payable account on December 31, 2021?

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