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On January 1, 2025, First Street issued $22,000 in bonds for cash of $17,700, which result in a discount amount on Bonds Payable of $4,300.

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On January 1, 2025, First Street issued $22,000 in bonds for cash of $17,700, which result in a discount amount on Bonds Payable of $4,300. These are six-year bonds with a stated interest rate of 15% that pay semiannual interest. First Street Sales uses the straight-line method to amortize the Bond Discount. After the first interest payment on June 30,2025 , what is the balance of Discount on Bonds Payable? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) A. debit of $3,942 B. debit of $4,300 C. debit of $4,658 D. credit of $358

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