21 Vaughn Company issued 261,000 of 5-year, 9% bonds at 95 on January 1, 2017. The bonds pay interest annually. Your answer is partially correct. (1) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Cash Bonds Payable Debit 247950 (2) Compute the total cost of borrowing for these bonds. Credit 247950 Total cost of borrowing 111578 Your answer is partially correct. (1) Prepare the journal entry to record the issuance of the bonds, assuming the bonds were issued at 102. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Cash Debit 266229 Credit Bonds Payable 266229 (2) Compute the total cost of borrowing for these bonds, assuming the bonds were issued at 102. Total cost of borrowing 119799