Smith Corporation issues $2,000,000, 10-year, 8% bonds payable at a price of 98. The journal entry to record the issuance will include a:
A.
debit to Cash of $2,000,000.
B.
credit to Discount on Bonds Payable for $40,000.
C.
credit to Bonds Payable for $1,960,000.
D.
debit to Cash for $1,960,000.