Nelson's MacBook Air # 3 E D C < eBook Check My Work 4 R F NFC Imper Nab V Ba Explore The Hunter Corporation bonds outstanding at the end of the current year should be reported as a balance sheet and the loss on redemption of the Simmons Industries bonds should be reported as an the income statement. 1 do Reporting Bonds At the beginning of the current year, two bond issues (Simmons Industries 7%, 20-year bonds and Hunter Corporation 8%, 10- year bonds) were outstanding. During the year, the Simmons Industries bonds were redeemed and a significant loss on the redemption of bonds was reported as cost of merchandise sold on the income statement. At the end of the year, the Hunter Corporation bonds were reported as a noncurrent liability. The maturity date on the Hunter Corporation bonds was early in the following year. % 10835 AN 7277008 5 T G MS B v2.cengagenow.com 6 RE (Ell All work saved. Y H & 7 N U J 8 M Email Instructor K - O ( 9 < cmd O L Save and Exit Submit Assignment for Grading O I opt P