Cullumber Company sold $5,550,000, 8%, 15-year bonds on January 1, 2017. The bonds were dated January 1,2017, and pay interest on December 31. The bonds were sold at 98.

At December 21,2017, $7,400 of the bond discount had been amortized. Show the long-tern liability balance sheet presentation of the bond liability at December 31, 2017.

Long Term Liabilities
Bonds Payable	5550000
Less:
Discount on Bonds Payable