Mergenthal Company issues bonds with a face amount of $800,000 for $749,000. Which of the following journal entries would be correct? Multiple choice question. Debit cash for $800,000; credit bonds payable for $800,000. Debit cash for $749,000; debit loss on bonds payable for $51,000; credit bonds payable for $800,000. Debit cash for $749,000; debit discount on bonds payable for $51,000; credit bonds payable for $800,000