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QUESTION
When interest expense is calculated using the effective-interest amortization method, interest expense on a bond that pays interest annually is equal...
When interest expense is calculated using the effective-interest amortization method, interest expense on a bond that pays interest annually is equal to the:
a. actual amount of interest paid.
b. carrying value of the bonds payable multiplied by the effective interest rate.
c. maturity value of the bonds payable multiplied by the effective interest rate.
d. carrying value of the bonds payable multiplied by the stated interest rate.
