Smith Corporation issues $2,300,000, 10-year, 7% bonds payable at a price of 97 The journal entry to record the issue will include a A dobit to Cash of $2,300,000 OB. debit to Cash for $2,231,000 OC credit to Discount on Bonds Payable for $69,000 OD, credit to Bonds Payable for $2.231,000