Unformatted text preview: Long-term liabilities Bonds Payable 10,000 Less: Discount on Bonds Payable (592) 9,408 The carrying value will continue to increase as the discount balance decreases with amortization. When the bond matures, the discount will be zero and the bond's carrying value will be the same as its principal amount. The discount amortized for the last payment may be slightly different based on rounding....
View Full Document
- Spring '08
- Interest, Discount, Generally Accepted Accounting Principles, balance sheet increases, discount balance