The Balance in the Bonds Payable Account Is a Credit

question 127

True/False

The balance in the Bonds payable account is a credit of $50,000.The balance in the Discount on bonds payable account is a debit of $1,500.The bond carrying amount is $51,500.

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Definitions:

Campaign

An organized course of action to achieve a particular goal, often referring to political, marketing, or social initiatives.

President

The highest executive officer of a company, organization, or country, typically responsible for making major decisions.

Point in Time

A specific moment or period at which an event occurs or at which a condition or state is observed.

Cluttering Phrase

An unnecessary or redundant phrase that complicates clarity in communication.