If newly issued debt is issued from a parent to its subsidiary, which of the following statements is false?

A-Interest revenue needs to be eliminated on the consolidated income statement.

B-A net gain or loss on the bond transaction will be reported.

C-There will be $0 net gain or loss on the bond transaction.

D-Any premium or discount on bonds payable is exactly offset by a premium or discount on bond investment.

E-Interest expense needs to be eliminated on the consolidated income statement.