Interest expense recognized each year exceeds interest paid because the bond was issued at a discount $($less cash was received compared to the amount that must be repaid$).$

Interest expense recognized each year exceeds interest paid because the bond was issued at a premium $($less cash was received compared to the amount that must be repaid$).$

Interest expense recognized each year exceeds interest paid because the bond was issued at a discount $($more cash was received compared to the amount that must be repaid$).$

Interest expense recognized each year exceeds interest paid because the bond was issued at a premium $($more cash was received compared to the amount that must be repaid$).$