Blue Spruce Corp. issued $571,000 of 5-year, 5% bonds at 96 on January 1, 2020. The bonds pay interest annuall- (21) Your answer is correct. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented wh is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Cash 548160 Discount on Bonds Payable 22840 Bonds Payable 571000 Compute the total cost of borrowing for these bonds. Total cost of borrowing $