Sweetwater Company sells \(\$ 100,000\) of \(10 \%, 15\)-year bonds for 97 on April 1, 2020. The market rate of interest on that day is \(10^{1} / 2 \%\). Interest is paid each year on April 1. The entry to record the sale of the bonds on April 1 would be which of the following?

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a. Cash....... 97,000 Bonds Payable. 97,000 b. Cash......... 100,000 Bonds Payable. 100,000 c. Cash........... 97,000 Discount on Bonds Payable........ 3,000 Bonds Payable........... 100,000 d. Cash......... 100,000 Discount on Bonds Payable...... 3,000 Bonds Payable....... 97.000