on 1 On 1 January 2020, Jasmine Ltd. issued $300.000 twenty-year debentures with a 10% coupon rate paid semi-annually. The debentures were issued for $265,587 when the market rate for similar debentures was 12%. What would be the credit journal entry to record the issue of the debentures? Cr. Discount on debentures $34,413 Cr. Debentures issuing expense $34,413 O Cr. Debentures payable $300,000 O Cr. Cash at bank $300,000 Cr. Debentures payable $265,587