In: Accounting
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 $3,350. What is the bond's carrying amount?
A) $3,350 B) $70,350 C) $67,000 D) $63,650
Answer : D) 63,650
Bond's Carrying Value = Bonds Payables +Discount on bonds payable
Bonds Carrying Value = $67,000-$3,350 = $63,650