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