When accounting for the interest on bonds payable, the cash interest paid in each period is:
A) the same amount regardless of whether the bond was sold at par, a discount, or a premium.
B) different depending upon the date of sale.
C) higher when the effective rate of interest on the bond is greater than the coupon rate.
D) higher when the bond interest expense is calculated using the effective interest amortization.
Correct Answer:
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