(Answered) The reagan corporation issues 1000 10-year 8 1000 bonds

Finance

The Reagan Corporation issues 1,000, 10-year, 8%, $1,000 bonds dated January 1, 2014, at 92. The journal entry to record the issuance will show a:

a. Credit to Discount on Bonds Payable for $80,000.

b. Credit to Cash for $920,000.

c. Debit to Cash of $1,000,000.

d. Credit to Bonds Payable for $1,000,000.

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