This contra account includes the unamortized difference between the face value of bonds and their sales price. A discount results when the price paid is less than the bond face value. Note: Former account tile is Discounts/Premiums on Bonds Payable. This account is no longer being used for premium - use account 22612000 for premium. For proprietary funds, this is a noncurrent liability with the Bonds & similar debt caption on the ACFR 11P. For governmental funds, this is the caption Bonds and similar debt payable in General Long Term Debt, GASB 5200 in the ACFR 11G.