Morris Corporation has 10-year, 12% bonds Payable of $100,000 that were sold on January 2, 2019 at a discount of $12,000. Amortization on the discount is recorded at the end of each year. Determine the Balance Sheet presentation of these bonds at December 31, 2020. (Present only the section of the Balance Sheet in which the bonds appear.)

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The Answer of Morris Corporation has 10-year, 12% bonds Payable of $100,000 that were sold on January 2, 2019 at a discount of $12,000. Amortization on the discount is recorded at the end of each year. Determine the Balance Sheet presentation of these bonds at December 31, 2020. (Present only the section of the Balance Sheet in which the bonds appear.)

Morris Corporation Has 10-Year, 12% Bonds Payable of $100,000 That