Question: Statement 1: When bonds are issued at a discount, the bonds payable account is credited for the proceeds from the issue. Statement 2: At any

Statement 1: When bonds are issued at a discount, the bonds payable account is credited for the proceeds from the issue. Statement 2: At any point during the term of the bond, the balance in the bonds payable account should be the carrying value of the bond. Select one: a. Both statements are True b. Statement 1 is False: Statement 2 is True c. Statement 1 is True: Statement 2 is False d. Both statements are False

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