A company issued $9\%,15-$year bonds with a par value of $$520\mathrm{.}000$ that pay interest semiannually. The market rate on the date of issuance was $9\%.$ The journal entry to record each semiannual interest payment is:

Multiple Choice

Debit Bond Interest Payable $$34,667$; credit Cash $$34,667$

Debit Bond Interest Expense $$46,800$; credit Cash $$46,800.$

Debit Bond Interest Expense $$23,400$; credit Cash $$23,400.$

No entry is needed, since no interest is paid until the bond is due.

Debit Bond Interest Expense $$470,000$; credit Cash $$470,000$