On October 1, 2020 Macklin Corporation issued 5%, 10-year bonds with a face value of $6,000,000 at 104. Interest is paid on October 1 and April 1, with any premiums or discounts amortized on a straight-line basis. The entry to record the issuance of the bonds would include a credit of
a. $150,000 to Interest Payable.
b. $240,000 to Discount on Bonds Payable.
c. $5,760,000 to Bonds Payable.
d. $240,000 to Premium on Bonds Payable.
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