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Martinez Corporation Issues 2000 10-Year 8% $1000 Bonds Dated January

Question 120

Multiple Choice

Martinez Corporation issues 2000 10-year 8% $1000 bonds dated January 1 2017 at 98. The journal entry to record the issuance will show a


A) debit to Cash of $2000000.
B) credit to Discount on Bonds Payable for $40000.
C) credit to Bonds Payable for $2040000.
D) debit to Cash for $1960000.

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