Question: Bonds payable (including premium or discount) should be reported as a long term liability in the balance sheet of the issuer at Current market price.

Bonds payable (including premium or discount) should be reported as a long term liability in the balance sheet of the issuer at Current market price. Lower-of-cost-or market Issue price, excluding any accrued interest at purchase date. Issue price plus any accrued unamortized bond premium or less any unamortized discount. OIssue price less any accrued unamortized bond premium or plus any unamortized discount

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