Sleepingdog Corporation issues 1,000, 10-year, 8%, $ 1,000 bonds dated January 1, 2021, at 97. The journal entry to record the issue will show a
A) debit to Cash for $ 1,000,000.
B) credit to Discount on Bonds Payable for $ 30,000.
C) credit to Bonds Payable for $ 1,000,000.
D) debit to Cash for $ 970,000.
Correct Answer:
Verified
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