On January 1, 2020, Merk Corporation issued $5,000,000, 10-year, 4% bonds at 98. Interest is payable annually on January 1. The journal entry to record this transaction on January 1, 2020 is

Group of answer choices

Cr. Cash 4,900,000 Dr. Discount on Bonds Payable 100,000 Cr. Bonds Payable 5,000,000

Dr. Cash 4,900,000 Cr. Bonds Payable 4,900,000

Dr. Cash 5,100,000 Cr. Discount on Bonds Payable 100,000 Cr. Bonds Payable 5,100,000

Dr. Cash 5,000,000 Cr. Bonds Payable 5,000,000