QS 10-12 (Algo) Reporting premium and discount bonds LO P2, P3 In each separate situation, show how bonds payable is reported in the long-term liabilities section of the December 31 balance sheet (Amounts to be deducted should be entered with a minus slgn.) 1. Bonds payable with a par value of $10,000 and a premium on bonds payable of $350. 2. Bonds payable with a par value of $30,000 and a discount on bonds payable of $720. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Bonds payable with a par value of $10,000 and a premium on bonds payable of $350. Liabilities Section of Balance Sheet December 31 Long-term liabilities S 0 Required 1 Required 2 > Bonds payable with a par value of $30,000 and a discount on bonds payable of $720. Liabilities Section of Balance Sheet December 31 Long-term liabilities S 0