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On January 1 of 2015, Parson Freight Company issues 90%, 10-year bonds with a par value of $4,400,000. The bonds pay interest semi-annually. The market

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On January 1 of 2015, Parson Freight Company issues 90%, 10-year bonds with a par value of $4,400,000. The bonds pay interest semi-annually. The market rate of interest is 10.0% and the bond selling price was $4101017. The bond issuance should be recorded as: Multiple Choice Debit Cash $4,400,000, credit Bonds Payable $4,400,000 Debit Cash $4,101,017, credit Bonds Payable $4101,017 Debit Cosh $4,400,000, credit Bonds Payable $4,101,017; credit Discount on Bonds Payable $298,983 Debit Cosh $4,101,017, debit Discount on Bonds Payable $298,983, credit Bonds Peyable $4,400,000 Debit Cash $4,101,017, debit Interest Expense $298,983, credit Bonds Payable $4,400,000

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