e Completion This test can be saved and resumed at any point until time has expired. The time will continue to run if you leave the test. emaining Time: 1 hour, 58 minutes, 39 seconds. Question Completion Status: Ques Moving to another question will save this response Question 1 3 points On January 1, 2016, ABC Company issued $450,000 of 10-year, 9% bonds. The interest is payable semi-annually on June 30 and December 31. The market interest rate is 6%. The effective interest method of amortization is used Which of the following statements is INCORRECT? C'A The market rate of interest on the sale date was less than the coupon rate of interest. On The book value of the bond will increase as the bond reaches maturity The interest expense will decrease as the bond reaches maturity D. The amortization of the premium on bonds payable will increase as the bond matures. Mowing there will QT $ 3 % 5 8 9 0 E R T Y U O P D F . J K C | N M