As a Premium on Notes Payable Is Amortized

question 67

Multiple Choice

As a premium on notes payable is amortized:

• A)the carrying value of the note and interest expense are increased.
• B)both the carrying value of the note is and interest expense are unchanged
• C)the carrying value of the note decreases and interest expense decreases
• D)the carrying value of the note increases and the interest expense decreases

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