The Discount on Bonds Payable account is: A. A liability. B. A contra liability. C. A contra expense. D. An expense. E. A contra

Question

nlexa [21]

3 years ago

12

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.

Business

1 answer:

trapecia [35] · Answer 1 · 2022-07-17T16:52:09+03:00

trapecia [35]3 years ago

7 0

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.