On January 1, 2019, Burton Sales issued $23,000 in bonds for $35,800. These are eight-year bonds with a stated rate of 9% and pay semiannual interest. Burton Sales uses the straightminus -line method to amortize the bond premium. Immediately after the issue of the bonds, the ledger balances are as follows: Bonds Payable 23,000 Premium on Bonds Payable 12,800 After the first interest payment on June 30, 2019, what is the balance of Premium on Bonds Payable? (Round your intermediate answers to the nearest dollar.)
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