Question 2 Determine whether the following bonds payable will be issued at face value, at a premium, or at a discount. 12% bonds payable issued when the market interest rate is 10% [Choose) 12% bonds payable issued when the market interest rate is 12% I Choose 12% bonds payable issued when the market interest rate is 14% [Choose My Corporation, Inc. decides to finance a project to upgrade its computer equipment throughout the company by issuing 50 $1.000, 10%, 5-year bonds. What is the correct journal entry if the bonds are issued at face value? 50,000 1 Cash Bonds Payable 50,000 2 Cash Discount on Bonds Payaibe Bonds Payable 49,000 1,000 50,000 51,000 3 Cash Premium on Bonds Payable Bonds Payable 1,000 50,000