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On January 2, 20X1, Meister Company issues $200,000 of 6% bonds. Interest of $6,000 is...

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Accounting

On January 2, 20X1, Meister Company issues $200,000 of 6% bonds. Interest of $6,000 is payable semi-annually on June 30 and December 31. The bonds mature in 5 years. The market interest rate is 7%. The bond issues for $191,684. On June 30, the company should recognize a discount amortization of:

$1,418

$0.

$249.

$709.

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