16. Treasury stock is classified as: A. An asset account. B. A contra asset account. C. A revenue account. D. A contra equity account E. A liability account. 17. The payment pattern for an installment note with equal cash payments includes: A. Increasing principal payments. B. Decreasing accrued interest. C. Equal principal and interest payments. D. Both A and B. E. None of these. 18. When a bond sells at a premium A. The contract rate is above the market rate. B. The contract rate is equal to the market rate. C. The contract rate is below the market rate. D. It means that the bond is a zero coupon bond. E. The bond pays no interest. 19, A company issues 9%, 20-year bonds with a par value of $750,000. The current mark is 9%. The amount of interest owed to the bondholders for each semiannual interest paym A. S0. B. $ 33,750. C. $ 67,500. D. $ 750,000. E. $1,550,000