On the issuance date, the Bonds Payable account has a balance of $55,000,000 and Premium on Bonds Payable has a balance of $5,000,000. These bonds issued at

Name: On the issuance date, the Bonds Payable account has a balance of $55,000,000 and Premium on Bonds Payable has a balance of $5,000,000. These bonds issued at
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The bonds were issued at $60,000,000 because the Bonds Payable account balance of $55,000,000 plus the Premium on Bonds Payable of $5,000,000 equals the issuance price.

On the Issuance Date, the Bonds Payable Account Has a Balance