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Ouersion 38 Premium on bonds will be amortized over the life of bonds as Not yet answered Marked out of 1.00 A reduction in the discount An addition in the discount An addition in the interest expense A reduction in the interest expense Flag question Der 36 On January 1 2014, Senior Company has sold OMR 400,000 10 year, 5% bonds at 598. Interest is payable semi-annually on June 30th and December 31st every year till the bonds maturity. Which journal entry will be passed for amortization of discount on December 3120147 answered Market 100 Discount on bonds payable will be debited and interest expense will be credited Cash will be debited and discount on bonds payable will be credited None of the these interest expense will be debited and cash will be credited