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Question
yanik corporation issues 1,000, 10-year, 8%, $1,000 bonds dated january 1, 2012, at 97. the journal entry to record the issuance will show a
a.debit to cash of $1,000,000
b.debit to discount on bonds payable for $30,000
c.credit to bonds payable for $970,000
d.credit to cash for $970,000
Answer
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