Blanding Company Issues $1,181,000 of 8%,10-Year Debentures at 96 on 28

Multiple Choice

Blanding Company issues $1,181,000 of 8%,10-year debentures at 96 on 28 February 2017.The debentures pay interest on 28 February and 31 August.The journal entry to record the issue would include a:

A) credit to Discount on debentures payable for $47,240
B) debit to Cash for $1,181,000
C) debit to Cash for $1,133,760
D) credit to Debentures payable for $1,133,760