Question: Five thousand bonds with a face value of $2000 each, are sold at 108. The entry to record the issuance is Cash 10800000 Discount on

Five thousand bonds with a face value of $2000 each, are sold at 108. The entry to record the issuance is

Cash 10800000

Discount on Bonds Payable800000

Bonds Payable10000000

Cash 10800000

Bonds Payable 10800000

Cash 10000000

Premium on Bonds Payable 800000

Bonds Payable10800000

Cash 10800000

Premium on Bonds Payable800000

Bonds Payable10000000

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