On the maturity date after the last interest payment is recorded, any premium or discount on bonds payable is always fully amortized.

Question

Quizplus · Accepted Answer

On the maturity date after the last interest payment, any premium or discount on bonds payable is fully amortized, meaning the bond's book value equals its face value, as the amortization process adjusts the bond's carrying amount to match its redemption value over its term.

On the Maturity Date After the Last Interest Payment Is