On January 1, 2005, Jon Sports has a bond payable of $200,000. During 2005, it pays off

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On January 1, 2005, Jon Sports has a bond payable of $200,000. During 2005, it pays off $20,000 of the outstanding bond principal and issues a new $70,000 bond. There are no other transactions related to the bond payable account.

What is Jon Sports' December 31, 2005 bond payable balance?

A debit balance of $250,000

A credit balance of $150,000

A debit balance of $150,000

A credit balance of $250,000

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Accounting concepts and applications

ISBN: 978-0538745482

11th Edition

Authors: Albrecht Stice, Stice Swain

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Posted Date: Nov 19, 2022 12:04 AM

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On January 1, 2005, Jon Sports has a bond payable of $200,000. During 2005, it pays off

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Accounting concepts and applications

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