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Market conditions may force a company to issue its bonds at less than the face value of the bonds. The Discount on Bonds Payable account

Market conditions may force a company to issue its bonds at less than the face value of the bonds. The Discount on Bonds Payable account is used in this situation. This account is _______.

A. a liability account

B. an expense account

C. a contra liability account

D. a contra asset account

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