2.00 points On January 1, a company issues bonds dated January 1 with a par value of $250,000. The bonds mature in !5 years. The contract rate is 9%, and interest is paid semiannually on June 30 and December 31. rate is 8% and the bonds are sold for $260148. The journal entry to record the first interest payment using stralght-line amortization is: The market O Debit Interest Expense $12.264.80: credit Premium on Bonds Payable $1,014.80: credit Cash $11,250.00 O Debit Interest Payable $11,250.00, credit Cash $11.250.00 O Debit interest Expense $12 264.80 credit Discount on Bonds Payable $1,014.80, credit Cash $11,250.00 O Debit Interest Expense $10.235.20: debit Discount on Bonds Payable $1.014.80; credit Cash $11,250.00 O Debit Interest Expense $10.235.20: debit Premium on Bonds Payable $1.014 80 credit Cash $11.250.00