Question: Question 7 5 pts Mayco issues 2,000, 10-year, 8%, $1,000 bonds dated January 1, 2018, at 98. The journal entry to record the issuance will

Question 7 5 pts Mayco issues 2,000, 10-year, 8%, $1,000 bonds dated January 1, 2018, at 98. The journal entry to record the issuance will show a debit to Cash for $1,960,000. debit to Cash of $2,000,000. credit to Bonds Payable for $2,040,000. credit to Discount on Bonds Payable for $40,000

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