Question 2 10 pts The journal entry to record the issuance of bonds when the face rate is less than the market rate would be: debit Bonds Payable, credit Cash debit Cash and Discount on Bonds Payable, credit Bonds Payable debit Cash, credit Premium on Bonds Payable and Bonds Payable debit Cash, credit Bonds Payable Question 3 10 pts The journal entry to record the issuance of bonds when the face rate equals the market rate would be: debit Bonds Payable, credit Cash debit Cash and Discount on Bonds Payable, credit Bonds Payable debit Cash, credit Premium on Bonds Payable and Bonds Payable debit Cash, credit Bonds Payable