My Corporation, Inc. decides to finance a project to upgrade its computer equipment throughout the company by issuing 50 $1,000, 10%, 5-year bonds. What is the correct journal entry if the bonds are issued at 98? 1 50,000 Cash Bonds Payable 50,000 2 Cash Discount on Bonds Payalbe Bonds Payable 49,000 1,000 50,000 51,000 3 Cash Premium on Bonds Payable Bonds Payable 1,000 50,000 1 2 None of the above