Bonds with a face value of $400,000 were issued at 98. The entry to record the issuance will include a credit to the Bonds Payable account for

Name: Bonds with a face value of $400,000 were issued at 98. The entry to record the issuance will include a credit to the Bonds Payable account for
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When bonds are issued at a discount or premium, the credit to the Bonds Payable account is always at the face value of the bonds, which in this case is $400,000.

Bonds with a Face Value of $400,000 Were Issued at 98