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Blue Spruce Corp. issues 6500, 10-year, 8%, $1000 bonds dated January 1, 2020, at 96....

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Question

Accounting

Blue Spruce Corp. issues 6500, 10-year, 8%, $1000 bonds dated January 1, 2020, at 96. The journal entry to record the issuance will show a

A. credit to Bonds Payable for $6240000.

B. debit to Cash of $6500000.

C. credit to Cash for $6240000.

D. debit to Discount on Bonds Payable for $260000.

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