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Two thousand bonds with a face value of $1,000 each are sold at 97

Accounting

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            Discount on Bonds Payable    60,000

               Bonds Payable                                     2,000,000

c.   Cash                                   1,940,000

               Bonds Payable                                     1,940,000

d. Cash                                   2,060,000

                Discount on Bonds Payable                               60,000                                                     Bonds Payable                                             2,000,000