On January $1,2024,$ Dumbledore Incorporated issues a bond with the following details:

Dumbledore Incorporated uses straight$-$line amortization.

The entry to record the issuance of the bonds would include

a debit of $194,040$ to Bonds Payable.

a credit of $1,960$ to Discount on Bonds Payable.

a debit of $1,960$ to Discount on Bonds Payable.

a credit of $194,040$ to Bonds Payable.