Teal Mountain Corporation issues 740, 10-year, 7%, $1000 bonds dated January 1, 2021, at 96. Recording the issuance will show a(n)

a) decrease to Discount on Bonds Payable for $29600.

b) increase to Cash of $740000.

c) increase to Cash for $710400

d) increase to Bonds Payable for $710400.