Bonds payable are shown as long-term balance sheet liabilities, unless they mature in a year or less. If current assets are expected to be used to retire the bonds, a Bonds Payable account should be listed in the current liability section. If the bonds are to be retired and new ones issued, they should remain as a long-term liability. All bond discounts and premiums also appear on the balance sheet.
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BONDS PAYABLE & THE BALANCE SHEET
- Front Matter
- Body Matter
- Back Matter