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Oriole Electric sold $6,600,000,10%,10-year bonds on January 1,2022 . The bonds were dated January 1,2022 , and paid interest annually on January 1 . The
Oriole Electric sold $6,600,000,10%,10-year bonds on January 1,2022 . The bonds were dated January 1,2022 , and paid interest annually on January 1 . The bonds were sold at 98. December 31,2022,$13,200 of the Discount on Bonds Payable account has been amortized. Show the balance sheet presentation of the long-term liability at December , 2022. (Enter account name only and do not provide descriptive information.) On January 1,2024 , when the carrying value of the bonds was $6,494,400, the company redeemed the bonds at 102 . Record the redemption of the bonds assuming that interest for the period has already been paid. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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