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When the periodic interest expense exceeds the periodic payment for a bond, the balance or carrying value: decreases down toward the maturity value as

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When the periodic interest expense exceeds the periodic payment for a bond, the balance or carrying value: decreases down toward the maturity value as the premium is amortized. increases up toward the maturity value as the premium is amortized. decreases down toward the maturity as the discount is amortized. increases up toward the maturity as the discount is amortized.

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