On December 31, 2013, a company issues
bonds with a par value of $600,000. The bonds mature in 10 years, and pay
6% annual interest, payable each June 30 and December 31. The bonds sold
at $592,000. The company uses thestraight-linemethod of amortizing bond discounts. The
company’s year-end is December 31. What is the balance in the Discount on
Bonds Payable account on 12/31/2014?