If bonds are issued for a price below their face value, the bond discount is:
a. Debited to expense on the date the bonds are issued.
b. Amortized over the life of the bond issue.
c. Shown as an addition to bonds payable in the Long-Term Liabilities section of the balance sheet.
d. Shown as a deduction to bonds payable in the Current Liabilities section of the balance sheet.