Which one of the following is not correct?

a) For debt issued at a discount, interest expense reported on the income statement consists of the following two components: cash interest paid less the amortization of a discount.

b) For bond repurchases: Net bonds payable = Repurchase payment + Gain (loss) on bond repurchase.

c) For debt issued at par, its interest expense reported on the income statement equals the cash interest payment.

d) None of the above