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The reagan corporation issues 1000 10 year 8 percent

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Reference no: EM13941896

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. 

Reference no: EM13941896

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