The account Discount on Bonds Payable decreases a company's liabilities.

Name: The account Discount on Bonds Payable decreases a company's liabilities.
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Discount on Bonds Payable is a contra liability account, meaning it reduces the overall amount of liabilities. This account represents the difference between the face value of the bonds and the amount actually received by the company when the bonds were issued at a discount.

The Account Discount on Bonds Payable Decreases a Company's Liabilities