The balance in the Bonds payable account is a credit of $50,000.The balance in the Discount on bonds payable is a debit of $1,500.The balance sheet will report the bond balance as $48,500.

Question

Quizplus · Accepted Answer

The bond balance is calculated by subtracting the discount from the Bonds payable account, which gives us $48,500 ($50,000 - $1,500). Therefore, the balance sheet will report the bond balance as $48,500.

The Balance in the Bonds Payable Account Is a Credit