What do you understand by bonds payable?
The obligation of paying an amount after the completion of a specific period is known as the organization's debt. The payment may include the interest and the principal amount initially borrowed by the organization or an individual.
Answer and Explanation: 1
A bond payable is one of the liabilities of the business organizations. It shows the amount that the organization has borrowed from its bondholders....
See full answer below.
Learn more about this topic:
fromChapter 1 / Lesson 5
Discover the principles of basic accounting and learn essential accounting terminology. Explore examples of these accounting terms in real-life situations.