The discount on bonds payable account would be classified as a(n)

Name: The discount on bonds payable account would be classified as a(n)
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The discount on bonds payable account is classified as a contra-liability account because it has a debit balance and is used to reduce the balance of the bonds payable account. It is not considered a current or noncurrent liability, and is not an adjunct liability which is a separate type of liability account.

The Discount on Bonds Payable Account Would Be Classified as A(n)