Question

Question 7 1 pts On January 1, 2010, Grant Corporation issued $4,000,000, 10-year, 8% bonds at 102. Interest is payable semiannually on January 1 and July 1. The journal entry to record this transaction on January 1, 2010 is O debit cash and credit bonds payable for $4,000,000 O debit cash and credit bonds payable for $4,080,000 O debit cash for $4,000,000 and premium on bonds payable for $80,000; credit bonds payable for $4,080,000 O debit cash for $4,080,000; credit premium on bonds payable for $80,000 and credit bonds payable for $4,000,000



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