On January 1, Year 1, Burton Corporation recorded the following journal entry:Cash196,000 Discount on Bonds Payable4,000 Bonds Payable 200,000Which of the following correctly describes the related transaction?
A. Burton issued bonds at 98.
B. Burton signed a note payable for $196,000.
C. Burton issued bonds at 102.
D. Burton issued bonds at a $4,000 premium.
Answer: A
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