On October $1,2023,$ Shenandoah issued $5\%,10-$year bonds with a face value of $$8,000,000$ at $98.$ Interest is paid on October $1$ and April $1,$ with any premiums or discounts amortized on a straight$-$line basis.

The journal entry to record the issuance of the bonds would include a:

credit of $$7,840,000$ to Bonds Payable.

debit of $$320,000$ to Discount on Bonds Payable.

debit of $$160,000$ to Discount on Bonds Payable.

credit of $$160,000$ to Discount on Bonds Payable.