Corbin Corporation issued 400,$1,000,11% bonds at 96.The entry to record this transaction is:
A) debit Cash $400,000; credit Bonds Payable $384,000; credit Discount on Bonds Payable $16,000.
B) debit Cash $384,000; credit Bonds Payable $384,000.
C) debit Cash $44,000; credit Bonds Payable $44,000.
D) debit Cash $384,000; debit Discount on Bonds Payable $16,000; credit Bonds Payable $400,000.
Correct Answer:
Verified
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