Identify the choice that best completes the statement or answer the question. A corporation issues $500,000 of 5%, 20-year bonds at 103. The initial journal entry would require a credit to the Cash account for $485.000 credit to the Cash account for $515.000 debit to the Cash account for $515.000 debit to the Cash account for $485.000 XYZ Corporation sold 50 bond with a $1.000 face value at 101. What is the amount of the premium recorded at the time of the bond issue? $49, 500 $50,000 $50, 500 S500 A corporation issues $250,000 of 12% 10-year bonds at 97. The initial journal entry would require a debit to the Cash account for $242.500 debit to the premium on Bonds Payable account for 57.500. credit to the Premium on Bonds Payable account for $7, 500. credit to the Bounds Payable account for $242.500. LAM Corporation sold 50 bonds with a $5.000 face value at 97. What is the total selling price of the bounds? $4, 850 $5,000 $242, 500 $250,000 A corporation issues $400,000 of 8%, 10-year bends at par (100) on October 1, 20X2. with interest payable, each October 1 and April 1. The adjusting entry on December 31, 20X2, requires a debit on the Interest Expense account for $32,000. debit to the Interest Payable account for $8,000 credit to the Interest Payable account for $8,000 credit to the Interest Payable account for $32,000