Oasis Company received $391,800 for bonds having a total face value of $400,000.What journal entry would be made to record this bond issuance?
A. Debit Cash for $400,000 and credit Bonds Payable for $400,000
B. Debit Cash for $400,000, credit Discount on Bonds Payable for $8,200, and credit Bonds Payable for $391,800
C. Debit Cash for $391,800, debit Discount on Bonds Payable for $8,200, and credit Bonds Payable for $400,000
D. Debit Cash for $400,000, credit Bonds Payable for $391,800, and credit Interest Payable for $8,200
Answer: C
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