21 is T/F

19) An example of an item which is not a liability is A) accrued estimated warranty costs. B) advances from customers on contracts. C) dividends payable in stock. D) the portion of long-term debt due within one year. 20) At the beginning of 2020, Wallace Corporation issued 10% bonds with a face value of $6,000,000. These bonds mature in the five years, and interest is paid semiannually on June 30 and December 31. The bonds were sold for $5,558,400 to yield 12%. Wallace uses a calendar-year reporting period. Using the effective-interest method of amortization, what amount of interest expense should be reported for 2020? (Round your answer to the nearest dollar.) A) $665,000 B) $669,018 C) $667,000 D) $688,320 21) A mortgage bond is referred to as a debenture bond