What is the long-term effect of amortizing a discount on the carrying value of bonds payable?

• A. Amortizing the discount reduces the carrying value below the face value.
• B. The carrying value of bonds payable decreases to zero by maturity.
• C. The carrying value of bonds payable increases to the face value by maturity.
• D. The carrying value of bonds payable remains unchanged.

Answer: (C)