QUESTION 22 On January 1 of the current year, Sophia Corporation issued $500,000, 6%, 5-year bonds for $520,000. The journal entry to record this transaction would be: a. Cash 520,000 Bonds payable 500,000 Premium on bonds payable 20,000 O b. cash 500,000 Discount on bonds payable 20,000 Bonds payable 520,000 O Cash 520,000 Premium on bonds payable $20,000 d. Cash 520,000 520.000 Bonds payable