2.00 points On January 1, a company Issues bonds dated January 1 with a par value of $420,000. The bonds mature in 5 years. The contract rate is 9%, and interest ls paid semiannually on June 30 and December 31. The market rate is 10% and the bonds are sold for $403778. The journal entry to record the issuance of the bond is: O Debit Cash $403,778; debit Discount on Bonds Payable $16.222: credit Bonds Payable $420,000 O Debt Cash $403778; debit Premium on Bonds Payable $16.222 credit Bonds Payable $420.000. O Debit Bonds Payable $420,000 debitinterest Expense $16.222: credit Cash $436.222 O Debit Cash $403,778, credit Bonds Payable $403778. O Debit Cash $420000. debit Discount on Bonds Payable $16.222, credit Bonds Paya 29