Using the bond from Exercise 14-13, show the reporting of the bond on the balance sheet at

Question:

Using the bond from Exercise 14-13, show the reporting of the bond on the at October 31, 2015. Round to the nearest dollar.
In Exercise 14-13
On January 1, 2015, Crozier Company, a privately held company, sold $20,000,000 of five-year, 5% bonds to finance its expansion of operations. The bonds, which pay interest on June 30 and December 31, were issued at an effective interest rate of 6%, resulting in Crozier Company receiving cash of $19,146,980. The bond discount is amortized using the straight-line method of amortization.
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...