The balance in the Bonds payable account is a credit of $50,000.The balance in the Discount on bonds payable account is a debit of $1,500.The bond carrying amount is $51,500.

Question

Quizplus · Accepted Answer

The bond carrying amount is calculated by subtracting the discount on bonds payable from the bonds payable account. Therefore, the carrying amount is $50,000 - $1,500 = $48,500.

The Balance in the Bonds Payable Account Is a Credit