Which of the following statements correctly describes the accounting for bonds that were issued at a discount?

• A. The market rate of interest is less than the coupon interest rate.
• B. The interest expense over the life of the bonds will be less than the coupon interest payments.
• C. The present value of coupon and principal payments is greater than the bonds' maturity value.
• D. The discount on bonds payable account decreases overtime when the effective interest method is used.