The journal entry Mackenzie Inc. made to record the sale (issue) of the bonds on January 1, 2019, would have included debit cash of?

Mackenzie Inc. issued five-year 4% bonds with a face value of $1,000,000 on January 1, 2019 when the market (effective) rate of interest was 3%. The bonds pay annual interest on December 31. Mackenzie uses the effective interest method. The journal entry Mackenzie Inc. made to record the sale (issue) of the bonds on January 1, 2019 would have included a debit to cash of: O $1,045,797 O $1,000,000 O $955,482 O $1,040,000