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Choices of Classification are Balance Sheet or Income STatement The following items are found in the...

The following items are found in the financial statements. Indicate how each of these items should be classified in the finanChoices of Classification are Balance Sheet or Income STatement

The following items are found in the financial statements. Indicate how each of these items should be classified in the financial statements. Classification (a) Discount on bonds payable. Interest expense (credit balance). (b) (c) Unamortized bond issue costs. (d) (e) (f) Gain on repurchase of debt. Mortgage payable (payable in equal amounts over next 3 years). Debenture bonds payable (maturing in 5 years). Notes payable (due in 4 years). Premium on bonds payable. Bonds payable (due in 3 years). g) < (h) (i)
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>balance sheet contains accounts related to Assets, Liabilities and Equity

>Income Statement includes items of revenues and expenses

a Balance Sheet
b Income Statement
c Balance Sheet
d Income Statement
e Balance Sheet
f Balance Sheet
g Balance Sheet
h Balance Sheet
i Balance Sheet
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