On the date of issue, Marigold Corporation sells $5.6 million of 5-year bonds at 98....

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Accounting

On the date of issue, Marigold Corporation sells $5.6 million of 5-year bonds at 98. The entry to record the sale will include the following debits and credits:
Bonds Payable
Discount on Bonds
Payable
$5488000Cr.
$0 Dr.
$5488000Cr.,$1344000Dr.
$5600000 Cr.,$11200 Dr.
$5600000Cr.,$112000Dr.
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