The normal balance of the discount on the bonds payable account and the premium on the bonds payable account are respectively:

Name: The normal balance of the discount on the bonds payable account and the premium on the bonds payable account are respectively:
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The discount on bonds payable is a contra liability account and has a normal debit balance, while the premium on bonds payable is an adjunct liability account and has a normal credit balance.

The Normal Balance of the Discount on the Bonds Payable