Victor Corporation issues $1,000,000, 10-year, 8% bonds at 96. The journal entry to record the issuance will show a:
A) debit to Cash of $1,000,000.
B) credit to Discount on Bonds Payable for $40,000.
C) credit to Bonds Payable for $960,000.
D) debit to Cash for $960,000.
D
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