On December 31, 2015, Lopez Sales Has a Bonds Payable

On December 31, 2015, Lopez Sales has a Bonds Payable Balance of $71,000 and a Premium on Bonds Payable of $3,900. On the balance sheet, how will this information be shown?

A) $71,000 less Premium of $3,900 for a Net Balance of $67,100
B) $71,000 less one-tenth of $3,900 for a net balance of $70,610
C) $71,000
D) $71,000 plus a premium of $3,900 for a net balance of $74,900

Correct Answer:

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