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30 December, 01:01

The balance in the Bonds Payable account is a credit of $ 72 comma 000. The balance in the Discount on Bonds Payable account is a debit of $ 3 comma 650. What is the bond's carrying amount?

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  1. 30 December, 04:08
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    The bond's carrying amount is $68,350

    Explanation:

    Data provided in the question:

    Balance in Bonds Payable account = $72,000

    Balance in the Discount on Bonds Payable account = $3,650

    Now,

    The Bond's carrying amount is calculated as:

    Bond's carrying amount

    = Balance in bonds payable account - Balance in discount payable account

    = $72,000 - $3,650

    = $68,350

    Hence,

    The bond's carrying amount is $68,350
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