The Reagan Corporation issues 1,000, 10-year, 8%, $1,000 bonds dated January 1, 2011, at 95. The journal entry to record the issuance will show a credit to Discount on Bonds Payable for $50,000. debit to Cash of $1,000,000. credit to Bonds Payable for $1,000,000. credit to Cash for $950,000