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Brief Exercise 9-44 Reporting Long-Term Debt on the Balance Sheet Scott Corp....

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Accounting

Brief Exercise 9-44
Reporting Long-Term Debt on the Balance Sheet
Scott Corp. provides contracted home staging services to real estate agencies and their clients. Scott issued the following bonds in the current year:
Required:
a. Prepare the balance sheet for 1,500 bonds with $1,000 face value which the market has valued at $45,000 below its face value.
Scott Corp.
Balance Sheet (Partial)
Long-term liabilities:
$
Bonds payable, net $
b. Prepare the balance sheet for 2,700 bonds with $1,000 face value which the market has valued at $85,000 above its face value
Scott Corp.
Balance Sheet (Partial)
$
Bonds payable, net
$
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