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Sarasota Corp. issues 950, 10-year, 8%, $1000 bonds dated January 1, 2020, at 95. The journal entry to record the issuance will show a debit

Sarasota Corp. issues 950, 10-year, 8%, $1000 bonds dated January 1, 2020, at 95. The journal entry to record the issuance will show a

debit to Cash for $902500.

debit to Cash of $950000.

credit to Discount on Bonds Payable for $47500.

credit to Bonds Payable for $902500.

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