A company issues $400,000 of 8%, 10-year bonds dated January 1. The bonds pay interest semiannually on June 30 and December 31 each year. If bonds are sold at par value, the issuer records the sale with a (debit/credit) __ to Bond Payable in the amount of $__.
Fill in the blank(s) with the appropriate word(s).
-Credit.
-400,000.
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