Fenway Corporation issued a $24,000,10-year,11% bond dated January 1,at 102.The journal entry to record the issuance of the bond will include a:
A) debit to Cash for $24,000.
B) debit to Cash for $24,480.
C) credit to Bonds Payable for $24,480.
D) debit to Discount on Bonds Payable for $480.
Correct Answer:
Verified
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