QUESTION 4 ABC Corporation issues $350,000 bonds at 360,500. The contract rate of interest is 8%. The entry to record the issuance of the bonds would include: Credit Bonds Payable $360,500 O Credit Premium $10,500 O Debit Bonds Payable $350,000 O Debit Cash $350,000 QUESTIONS What statement is NOT true about liabilities: O They can represent expenses that have been incurred but not yet paid O They can result from cash being collected in advance of a service being performed They occur because of past transactions They represent amount owed from customers Click Save and Schola