The balance in Discount on Bonds Payable that is applicable to bonds due in 2015 would be reported on the balance sheet in the section entitled
A) investments
B) long-term liabilities
C) current assets
D) intangible assets

Question

Quizplus · Accepted Answer

The balance in Discount on Bonds Payable that is applicable to bonds due in 2015 represents a long-term liability and should be reported on the balance sheet in the section entitled long-term liabilities.

The Balance in Discount on Bonds Payable That Is Applicable