Multiple Choice Question 147

Swifty Corporation issues 2600, 10-year, 6%, $1000 bonds dated January 1, 2018, at 99. The journal entry to record the issuance will show a:

A. debit to Cash of $2600000.

B. debit to Cash for $2574000.

C. credit to Discount on Bonds Payable for $26000

D. credit to Bonds Payable for $2626000