O'Malley, Inc. issued 60,000 shares of common stock in exchange for manufacturing equipment. The equipment has a fair value of $1,420,000. The stock has a par value of $0.05 per share. The journal entry to record this transaction Includes a credit to Paid-in Capital in excess of Par-Common for $1,417,000 credit to Gain on Sale of Common Stock for $1,480,000 debit to Cash for $14,170,000 O credit to Common Stock -- $0.05 Par Value for $1,420,000 On December 31, 2018, Country Living Sales has 10-year Bonds Payable of $89,000 and Discount on Bonds Payable of $2350. How will this be shown on the December 31, 2018 Balance Sheet? O Bonds Payable $89,000 less Discount on Bonds Payable $2,350 for a carrying amount of $86,650 Bonds Payable $89,000 less one-tenth of $2,350 for a carrying amount of $88,765 Bonds Payable $89,000 plus Discount on Bonds Payable for a carrying amount of $91,350 Bonds Payable $89,000