Question: Assume that Smith Co. amortizes premiums and discounts on bonds payable at the end of the year rather than when interest is paid. What accounts

Assume that Smith Co. amortizes premiums and discounts on bonds payable at the end of the year rather than when interest is paid. What accounts would be debited and credited to record
(a) The amortization of a discount on bonds payable and
(b) The amortization of a premium on bonds payable?

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