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On January 1, 2011, Grant Corporation issued $4,000,000, 10-year, 8% bonds at $1

On January 1, 2011, Grant Corporation issued $4,000,000, 10-year, 8% bonds at $102. Interest is payable semiannually on January 1 and July 1. The journal entry to record this transaction on January 1, 2011 is Cash………………………………………….4,000,000 Bonds Payable…………………………………….4,000,000 Cash………………………………………….4,080,000 Bonds…

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