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AlexFokin [52]
3 years ago
14

On December 31, 2021 Sun Devils Company has outstanding bonds payable with a face value of $700,000, discount on bonds payable o

f $60,000, and interest payable of $15,000. The bonds mature on January 1, 2025, and interest is payable on a semi-annual basis. What amounts will be reported in the current liabilities section and long-term liabilities section of the balance sheet for these bonds
Business
1 answer:
alexandr1967 [171]3 years ago
5 0

Answer:

current liabilities = $75,000

long-term liabilities = $700,000

Explanation:

Current liabilities includes a company`s obligation due for payment within a period of 12 months and long-term liabilities are company's obligation due for payment for period exceeding 12 months.

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