Corbin Corporation issued 300,$1,000,11% bonds at 98.The entry to record this transaction is:
A) debit Cash $300,000;credit Bonds Payable $294,000;credit Discount on Bonds Payable $6,000.
B) debit Cash $294,000;credit Bonds Payable $294,000.
C) debit Cash $300,000;credit Bonds Payable $300,000.
D) debit Cash $294,000;debit Discount on Bonds Payable $6,000;credit Bonds Payable $300,000.
Correct Answer:
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