Compute the total cost of borrowing for these bonds, assuming the bonds were issued at 104.

Prepare the journal entry to record the issuance of the bonds, assuming the bonds were issued at 104. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Cash 431080 Bonds Payable 414500 Premium on Bonds Payable 16580 Total cost of borrowing $