E 9-5 Disclosure of Debt LO 9.3 On May 1, 2016, Ramden Company issues 13% bonds with a face value of $2 million. The bond contract calls for retirement of the bonds in periodic installments of $200,000, starting on May 1, 2017, and continuing on each May 1 thereafter until all bonds are retired. Required: How would the preceding information appear in Ramden's balance sheets on December 31, 2016 and 2017