Question 3 5 pts Connery Corporation issues 50, $1,000 face value, 10% bonds at 99. The journal entry includes a: a credit to bonds payable for $49,500 a debit to discount on bonds payable for $500 a debit to cash for $500 a credit to premium on bonds payable for $2,500 O a debit to cash for $50,000 Question 4 5 pts Several years ago, Hornet Corporation issued issued $600,000, 10% bonds for $640,000. The balance in the premium on bonds payable account at the end of the current year is $48,000. The balance sheet for the current year would show a net liability (carrying value) of: $592,000 $552,000 O $648,000 O $688,000