The balance in the Bonds Payable is a credit of $74,000. The balance in the Premium on Bonds Payable is a credit of $1600. What is the bond carrying amount?
A) $1600
B) $75,600
C) $74,000
D) $72,400
B) $75,600
Explanation: Bonds Payable $74,000
Add: Premium on Bonds Payable 1600
Bond Carrying Amount $75,600
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