Which of the following accounts appear in the liabilities section of the balance sheet?
A)Warranties payable, discounts on notes payable, accounts payable.
B)Accounts payable, notes payable, allowance for doubtful accounts.
C)Notes payable, discounts on notes payable, credit card receivables.
D)Accounts payable, allowance for doubtful accounts, warranties payable.

Question

Quizplus · Accepted Answer

Discount on notes payable is a contra-liability that appears in the liabilities section of the balance sheet.

Which of the Following Accounts Appear in the Liabilities Section