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Which of the following statements is false O A. Debits are on the left and credits are on the right O B. Amortizing a premium on bonds payable would include a debit to the premium on bonds payable account . Recording an extinguishment of a bond payable would include a debit to bonds payable OD. Debits increase accounts and credits decrease accounts A company wants to extinguish a $500,000 face value bond with a carrying value of $556,000. The call price on this bond is $600,000. The stated rate was 10% and market rate was 8%. The journal entry to record the extinguishment on the bond will include... . Dr. Premium on Bond Payable 56,000 OB. Cr. Premium on Bond Payable 44,000 OC. Dr. Loss on extinguishment 56,000 OD.Cr. Bonds Payable 600,000