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Financial Accounting: Liabilities and Group Accounting

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Types of Liabilities

Contingent Liabilities

Notes Payable

Sales Tax Payable

Current Portion of Long Term Debt

Payroll and Payroll Taxes

Introduction to Bonds and Bond Characteristics

Face Value Bonds

Discount on Bonds

Premium on Bonds

Straight Line Amortization of Bond Premium or Discount

Effective Interest Amortization of Bond Premium or Discount

Redeeming Bonds before Maturity