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Question(s) / Instruction(s):

Two thousand bonds with a face value of $1,000 each are sold at 102. The entry to record the issuance is

A.            Cash                       2,040,000           

Discount on Bonds Payable                 40,000

Bonds Payable                               2,000,000

B.            Cash                       2,000,000           

Premium on Bonds Payable                40,000

Bonds Payable                               2,040,000

C.            Cash                        2,040,000          

Bonds Payable                               2,040,000

D.            Cash                        2,040,000          

Premium on Bonds Payable                        40,000

Bonds Payable                               2,000,000

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