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Find the journal entry to record the issuance will show a

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Problem 1: ABC Corporation issues 4,000, 10-year, 8%, $1,000 bonds at 97 (97% of par value). The journal entry to record the issuance will show a

Option 1: credit to Cash for $3,880,000

Option 2: credit to Bonds Payable for $3,880,000.

Option 3: debit to Discount on Bonds Payable for $120,000.

Option 4: debit to Cash of $4,000,000.

Reference no: EM132768873

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