ACC 304 All Assignments ACC 304 All Assignments | Page 232

Indicate how each of these items should be classified in the financial
statements.
Classification
(a) Discount on bonds payable
(b) Interest expense (credit balance)
(c) Unamortized bond issue costs
(d) Gain on repurchase of debt
(e)
years) Mortgage payable (payable in equal amounts over next 3
(f) Debenture bonds payable (maturing in 5 years)
(g) Notes payable (due in 4 years)
(h) Premium on bonds payable