F11 F12 Pser ert Delete Deckspaces W A 8 On January 1, 2017, Meeks Corporation issued s5,000,000, 10-year, 4 % bonds at 102, Interest is pavable annualy on January 1. The journal entry to record this transaction on January 1, 2017 is a Cash 5.000.000 5,000,000 Bonds Payable. 5.100.000 b Cash. 5,100,000 Bonds Payable. 100.000 Premium on Bonds Payable Cash Bonds Payable. 5,000,000 5,100,000 5,100,000 dCash Bonds Payable. Premium on Bonds Payable 5,000,000 100,000 9.The total cost of borrowing is higher if the a. bonds were issued at a premium. r bonds were issued at a discount c bonds were sold at face value. d. market interest rate is less than the contractual interest rate on that date. 10.The entry to record an installment payment on a long-term note payable is a. Mortgage Payable Cash b. Interest Expense o on Cash poC. Mortgage Payable Interest Expense Cash d. Bonds Payable Cash 11. Autumn Company purchased a building on January 2 by signing a long-term $630,000 mortgage with monthly payments of $5,400. The mortgage carries an interest rate of 10 percent The entry to record the first monthly payment will include a a. debit to the Cash account for $5,400. b. credit to the Cash account for $5,250. c debit to the Interest Expense account for $5,250. d credit to the Mortgage Payable account for $5,400