Debit Credit Account Titles and Explanation Cash SOB800 21200 Discount on Bonds Payable 530000 Bonds Payable Assistance Used e Textbook and Media List of Accounts Attempts: 1 of 3 used (a2) Compute the total cost of borrowing for these bonds. $ Total cost of borrowing Ivanhoe Company issued $530,000 of 5-year, 6% bonds at 96 on January 1, 2022. The bonds pay interest annually. (21) Your answer is correct. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Cash 508800 Discount on Bonds Payable 21200 Bonds Payable 530000