The balance in the Discount on Bonds Payable account is a debit of $3,200. What is the bond's carrying amount?

The balance in the Bonds Payable account is a credit of $68,000. The balance in the Discount on Bonds Payable account is a debit of $3,200. What is the bond's carrying amount?

A. $68,000 B. $64,800 C. $71,200 D. $3,200

Expert Solution

Calculation of Bond's carrying amount:

Bond's carrying amount= Balance in bonds payable account- balance in discount payable account

= 68000-3200= $64800

Therefore correct answer is B) $64800

ekkarill92 answered 2 years ago

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