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What type of account is Discount on Bonds Payable, and what is its normal balance? A. Contra liability; Credit B. Adjusting account; Credit C. Contra

What type of account is Discount on Bonds Payable, and what is its normal balance?

A. Contra liability; Credit

B. Adjusting account; Credit

C. Contra liability; Debit

D. Reversing account; Debit

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