On January 1, 2016, Rhoda Corporation sells $1,000,000, 7%, 10 year bonds at 103. The journal entry to record the bond issuance will include:
A. debit to Cash for $1,030,000
B. debit to Bonds Payable for $1,000,000
C. debit to Premium on Bonds Payable for $30,000
D. credit to Bonds Payable for $1,030,000
Ans: A. debit to Cash for $1,030,000
Business
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