Please solve this question accounting The balance in the Bonds Payable Account is a credit of$68,000. The balance in the Premium on Bonds PayableAccount is a credit of $900. How much is the bond carryingamount?a. $900b. $68,900c. $68,000d. $67,100

Step 1: Define Carrying Amount of BondThe carrying amount is the face value plus the unamortized…

Answered: The balance in the Bonds Payable…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 9Q: What kind of account is the Discount on Bonds Payable? What kind of account is the Premium on Bonds...

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The balance in the Bonds Payable Account is a credit of $68,000. The balance in the Premium on Bonds Payable Account is a credit of $900. How much is the bond carrying amount? a. $900 b. $68,900 c. $68,000 d. $67,100