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Joyce Corporation issues 1,000 ten-year, 8%, $1,000 bonds dated January 1, 2007, at 102. The journal entry to record the issuance will show a _____.

a) debit to Cash of $1,020,000

b) debit to Discount on Bonds Payable for $20,000

c) credit to Bonds Payable for $1,020,000

d) credit to Cash for $1,000,000

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M941848

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