Question

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?

Answer 1

Answer:

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