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Yanik Corporation issues 1,000, 10-year, 8%, $1,000 bonds dated January 1, 2010, at 97. The...

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Accounting

Yanik Corporation issues 1,000, 10-year, 8%, $1,000 bonds dated January 1, 2010, 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.

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