The premium on bonds payable account is shown on the balance sheet as:
A) A contra asset
B) A reduction of an expense
C) As an increase in equity for the premium provided
D) An addition to a long-term liability
Answer: D
The premium on bonds payable account is shown on the balance sheet as:
A) A contra asset
B) A reduction of an expense
C) As an increase in equity for the premium provided
D) An addition to a long-term liability
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