Question: Griggs Co . failed to amortize the premium on an outstanding five - year bond issue. What is the resulting effect on interest expense and

Griggs Co. failed to amortize the premium on an outstanding five-year bond issue. What is the resulting effect on interest expense and the bond carrying value, respectively?
Group of answer choices
Understated, understated.
Understated, overstated.
Overstated, understated.
Overstated, overstated.

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