Workman Inc. issued a bond for $10,000,000 at 5% for 5 years. The journal entry to retire or redeem the bonds at maturity is:

Multiple Choice

A) Debit Bonds Payable $10,000,000 and Credit Cash $10,000,000

B) Debit Bonds Payable $10,500,000 and Credit Cash $10,500,000

C) Debit Cash $10,500,000 and Credit Bonds Payable $10,500,000

D) Debit Cash $10,000,000 and Credit Bonds Payable $10,000,000