Fenway Corporation issued a $16,000, 10-year, 8% bond dated January 1, at 103. The journal entry to record the issuance of the bond will include a:
A) debit to Cash for $16,000.
B) debit to Cash for $16,480.
C) credit to Bonds Payable for $16,480.
D) debit to Discount on Bonds Payable for $480.
Correct Answer:
Verified
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