The balance in the Bonds Payable account is a credit of $67,000.The balance in the Discount on Bonds Payable account is a debit of $3350.What is the bond's carrying amount?

Name: The balance in the Bonds Payable account is a credit of $67,000.The balance in the Discount on Bonds Payable account is a debit of $3350.What is the bond's carrying amount?
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Question

Quizplus · Accepted Answer

The bond's carrying amount is calculated by subtracting the Discount on Bonds Payable from the Bonds Payable account balance: $67,000 - $3,350 = $63,650.

The Balance in the Bonds Payable Account Is a Credit