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Caylng value on the balance sheet. C The unamortized Discount on Bonds Payable account is a contra - liability account. 18. T 18( true or false)
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Part 18

True

In the balance sheet of the issuing entity, an unamortized bond discount on bonds payable that are outstanding is reported within a contra liability account. A contra liability account is paired with the other obligation or liability account in the balance. The obligation with credit balance in the balance sheet is reduced with the help of contra liability account, which has debit balance. The unamortized bonds discount has debit balance and reduces the credit balance of bonds payable in the balance sheet.

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