How is the difference between this market value and the$$$$300$ million face value reflected in Dell$$s financial statements?

The balance sheet is unaffected, but the income statement reflects increases $($decreases$)$ in interest rates as increases $($decreases$)$ in interest expense.

Only the statement of cash flows is affected as cash is needed to retire the liabilities when they mature.

The current market value of the notes is reflected in the balance sheet as an increase $($decrease$)$ in liabilities if rates have declined $($increased$).$

The current market value of the notes is not reflected in Dell's balance sheet.