Gross Company sold $100,000 of long-term bonds in the open market for $108,000. The entry to record the transaction would be: Multiple Choice DR Cash 100,000 DR Premium on Bonds Payable 8,000 CR Bonds payable 108,000 DR Bonds payable 108,000 CR Cash 108,000 DR Accounts payable 108,000 CR Bonds payable 108,000 DR Cash 108,000 CR Premium on Bonds Payable 8,000 CR Bonds payable 100,000