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    Exam 14: Long-Term Liabilities
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    The Balance in the Bonds Payable Account Is a Credit
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The Balance in the Bonds Payable Account Is a Credit

Question 20

Question 20

True/False

The balance in the Bonds Payable account is a credit of $24,500.The balance in the Premium on Bonds Payable account is a credit of $1,000.The balance sheet will report the bond balance as $23,500.

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