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Question
The journal entry a company makes for the issuance of bonds when the contract rate and the market rate are the same is to
a. debit Bonds Payable, credit Cash
b. debit Cash and Discount on Bonds Payable, credit Bonds Payable
c. debit Cash, credit Premium on Bonds Payable and Bonds Payable
d. debit Cash, credit Bonds Payable
Answer
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