Some bonds issued worth $500,000 were sold at 98, Excel can be used to calculate the amount. Therefore, the bonuses: • Sold at a discount which is recorded at the same time with a debit to the Bonds Payable account and a credit to Cash Sold at a discount which is recorded at the same time with a debit to the Cash account and a credit to the Bonds Payable account Sold at a profit (premium) which is recorded at the same time in the account Bonds Payable and a Cash Credit - Sold at a profit (premium) which is recorded at the same time with a debit to the Cash account and a credit to the Bonds Payable account