Yanik Corporation issues 4,000, 10-year, 8%, $1,000 bonds dated January 1, 2014, at 97. The journal entry to record the issuance will show a debit to Discount on Bonds Payable for $120,000. debit to Cash of $4,000,000. credit to Cash for $3,880,000. credit to Bonds Payable for $3,880,000