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 face value? 1 Cash Bonds Payable 50,000 50,000 2 Cash Discount on Bonds Payalbe Bonds Payable 49,000 1,000 50,000 3 Cash 51,000 Premium on Bonds Payable Bonds Payable 1,000 50,000 2 3 None of the above