Multiple Choice
When converting to government-wide financial statements, the entry to record the amortization of the premium on a bond would:
A) Debit the Premium on bonds payable and credit interest expense.
B) Debit the Premium on bonds payable and credit premium expense.
C) Debit the Bond Payable and credit Premium on bonds payable.
D) There is no entry. You do not amortize the premium.
Correct Answer:
Verified
Correct Answer:
Verified
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