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6 March, 02:46

On January 1, 2015, Jon Sports has a bond payable of $200,000. During 2015, it pays off $20,000 of the outstanding bond principal and issues a new $70,000 bond. There are no other transactions related to the bond payable account. What is Jon Sports' December 31, 2015, bond payable balance?

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  1. 6 March, 03:04
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    250,000 bonds payable at December 31th, 2015

    Explanation:

    Beginning Bonds

    -Principal Payment made (bonds called)

    +bonds issued

    Ending Bonds

    200,000

    -20,000 principal payment

    70,000 new bonds issued

    250,000 bonds payable at December 31th, 2015
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Home » Business » On January 1, 2015, Jon Sports has a bond payable of $200,000. During 2015, it pays off $20,000 of the outstanding bond principal and issues a new $70,000 bond. There are no other transactions related to the bond payable account.
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