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Part $1$

Joyner ScientificJoyner$$Scientific$\text{'}$s

trial balance shows

$ $150$ comma $000$$$150,000$

face value of bonds with a discount balance of

$ $1$ comma $500$$$1,500.$

The bonds mature in $10$ years. How will the bonds be presented on the balance$$ sheet?

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Part $1$

A$.$

Bonds payable

$ $148$ comma $500$$$148,500$

$($net of

$ $1$ comma $500$$$1,500$

$$discount$)$ will be listed as a$$ long$-$term liability.

B$.$

Bonds payable

$ $150$ comma $000$$$150,000$

will be listed as a$$ long$-$term liability.

C$.$

Bonds payable

$ $150$ comma $000$$$150,000$

will be listed as a$$ long$-$term liability. A

$ $1$ comma $500$$$1,500$

discount on bonds payable will be listed as a contra current liability.

D$.$

Bonds payable

$ $150$ comma $000$$$150,000$

will be listed as a$$ long$-$term liability. A

$ $1$ comma $500$$$1,500$

discount on bonds payable will be listed as a current liability.