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A discount on bonds payable: Multiple Choice Occurs when a company issues bonds with a contract rate less than the market rate. Occurs when a

A discount on bonds payable:

Multiple Choice

Occurs when a company issues bonds with a contract rate less than the market rate.

Occurs when a company issues bonds with a contract rate more than the market rate.

Increases the Bond Payable account.

Decreases the total bond interest expense.

Is not allowed in many states to protect creditors.

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