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Reporting Bonds on the Balance Sheet

Yale Corporation issued to Zap Corporation $60,000, 8% (cash interest payable semiannually on June 30 and December 31) 10-year bonds dated and sold on January 1, 2020. Assume that the company uses the effective interest amortization method. If the bonds were sold to yield 9%, show how the bonds and related accounts would be presented on the balance sheet as of June 30, 2020.

Note: Round your answers to the nearest whole dollar. Note: Do not use negative signs with your answers. Note: List accounts in alphabetical order. Balance Sheet June 30, 2020 Liabilities $ Bonds Payable Discount on Bonds Payable Bonds payable, net 60,000 2,400 x TA 0 x