Question 29 Amortization of a bond discount Not yet answered Marked out of 100 Flag question Select one O A. Decreases the Bonds Payable account B. Creates a Discount Payable account C. Increases the Bonds Payable account D. Allocates the amount of the discount over the life of the bond E. None of these Question 30 Cannon Lid bought display racks with a fair market value of $150,000. The corporation signed a 3-year interest-bearing note at 8%. The entry to record the transaction would include Not yet answered M ed out of 10 Flag question Select one: A. A credit to interest Payable for $400 B. A credit to Notes Payable for $150,000 C. A debit to interest Expense for $12,000 D. A credit to Notes Payable for $30,692 E. A debit to Noles Payable for $150,000