Current Attempt in Progress

If bonds are initially sold at a discount and the straight$-$line method of amortization is used, interest expense in the

earlier years will be

less than it would have been had the effective interest method of amortization been used.

the same as it would have been had the effective interest method of amortization been used.

less than the stated rate of interest.

higher than it would have been had the effective interest method of amortization been used.