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28-08-2020
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The Discount on Bonds Payable account is: A. A liability. B. A contra liability. C. A contra expense. D. An expense. E. A contra equity.

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30-08-2020

Answer:

B. A contra liability

Explanation:

A contra liability account is an account that is paired with another liability account and used to reduce the liability in that account. The Discount on Bonds Payable, decreases the Value of Bonds.

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