Write: Make sure your response addressing the prompt is more than 200 words and that you include an in-text citation or a brief quote from the reading material where appropriate. Long-term liabilities are liabilities that do not have to be paid in the current year. Long-term liabilities can be a long-term note or a mortgage and can also be created when the company issues bonds. - What are the various types of bonds and their characteristics? - Discuss and provide examples of bonds being issued at par, at a discount, and at a premium. - Explain the two methods to amortize the bond premium and discount. - Give example journal entries for the two different amortization methods