Question: Question 21 (3 points) The Premium on Bonds Payable account is shown on the balance sheet as a contra asset a reduction of an expense.

Question 21 (3 points) The Premium on Bonds Payable account is shown on the balance sheet as a contra asset a reduction of an expense. a separate valuation account that increases the bond liability to market value at the issue date. a subtraction from a long-term liability

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