Each of the following accounts is generally reported as a long-term liability except

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Interest payable is usually reported as a current liability rather than a long-term liability as it represents the amount of interest owed to lenders for the current accounting period. Bonds payable, Discount on Bonds Payable, and Premium on Bonds Payable are all long-term liabilities as they represent the issuance of bonds with a maturity greater than one year.

Each of the Following Accounts Is Generally Reported as a Long-Term