On January $1,2021,$ Splash City issues $$500,000$ of $9\%$ bonds, due in $20$ years with interest payable semiannually on June $30$ and December $31$ each year. The market interest rate on the issue date is $10\%,$ and the bonds will issue at $$457,102.$ The journal entry to record the issuance of the bonds should include:

a$.$

a debit of $$500,000$ to the cash account

b$.$

a credit of $$500,000$ to the bonds payable account

c$.$

a credit of $$42,898$ to the discount on bonds payable account

d$.$

a credit of $$457,102$ to the cash account