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Saved THE FOLLOWING INFORMATION IS USED FOR QUESTIONS 3 - 10. Quiz Company issued $1,000,000 of 10% bonds on January 1, 2020 to yield 8%.

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Saved THE FOLLOWING INFORMATION IS USED FOR QUESTIONS 3 - 10. Quiz Company issued $1,000,000 of 10% bonds on January 1, 2020 to yield 8%. The bonds pay interest every July 1 and January 1 and mature on Janauary 1, 2025. The bonds are callable at 103 The entry to record the issue of the bonds on January 1, 2020 would include O A credit to premium on bonds payable for $81,105 A debit to cash for $1,079,851 A debit to discount on bonds payable for $119,785 A debit to bonds payable for $1,000,000

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