Gay Co. has a balance in the Bonds Payable account of $25,000 and a balance in the

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Gay Co. has a balance in the Bonds Payable account of $25,000 and a balance in the Discount on Bonds Payable account of $5,200. What is the carrying value of the bonds? What is the total amount of the liability?

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Survey of Accounting

ISBN: 978-0078110856

3rd Edition

Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi

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Question Posted: May 18, 2012 06:33 AM

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Gay Co. has a balance in the Bonds Payable account of $25,000 and a balance in the

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The carrying value of the bonds is 19800 25000 face minus 5200 discou...View the full answer

Survey of Accounting

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