Martinez Corporation issues 2,000, 10-year, 8%, $1,000 bonds dated January 1, 2020, at 98. The...
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Accounting
Martinez Corporation issues 2,000, 10-year, 8%, $1,000 bonds dated January 1, 2020, at 98. The journal entry to record the issuance will show a____________.
A. credit to Discount on Bonds Payable for $40,000
B. debit to Cash for $1,960,000
C. debit to Cash of $2,000,000
D. credit to Bonds Payable for $2,040,000
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