On December 31, 2013, a company issues bonds with a par value of $600,000.  The bonds mature in 10 years,...

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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 the straight-line method 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?

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