On July 1, 2020, McGuire Corporation buys 75 Mega Inc. 8%, five-year, $1,000 bonds. As part of the sale, McGuire pays its broker a 6% commission. When recording this transaction, McGuire should journalize a $75,000 credit to Cash. $75,000 credit to Debt Investments. $79,500 credit to Cash. $79,500 credit to Debt Investments.

On July 1, 2020, McGuire Corporation buys 75 Mega Inc 8%, five-year, $1.000 bonds. As part of the sale, McGuire pays its broker a 6% commission. When recording this transaction, McGuire should journalize a $75,000 credit to Cash. $75,000 credit to Debt Investments. $79,500 credit to Cash. $79,500 credit to Debt investments