A bond payable: O is special type of long-term interest-bearing note payable issued by a corporation to raise capital. O is the amount owed for mortgage. is the amount to be paid on the maturity date of a bond. O is the information on the bond certificate written by the corporation in a formal agreement. Question 20 2 pts For a corporation, a premium on bonds results when: the contract rate is greater than the market rate. the contract rate is less than the market rate, the face value is greater than the effective rate the rate on the bond certificate is less than the market rate