Blandings Glassware Company issues $1,150,000 of 15%, 10-year bonds at 95 on February 28, 2017. The bonds pay interest on February 28 and August 31. The journal entry to record the issuance includes a ________
A) debit to Cash for $1,150,000
B) credit to Bonds Payable for $1,092,500
C) credit to Discount on Bonds Payable for $57,500
D) debit to Cash for $1,092,500
D .Cash received = 1,150,000 x 95% = 1,092,500
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