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Help Save & Exit Submit On January 1, a company issues bonds dated January 1 with a par value of $450,000. The bonds mature in 5 years. The contract rate is 9%, and interest is paid semiannually on June 30 and December 31. The market rate is 10% and the bonds are sold for $432,619. The Journal entry to record the issuance of the bond is Multiple Choice 557 Debit Cash $432,619, debit Discount on Bonds Payable $17,387credit Bonds Payable $450,000 Debit Bonds Payable $450,000, debit Bond Interest Expense $17,301, credt Cash $467381 Debit Cash $450,000, credit Discount on Bonds Payable $17,381, credit tonds Payable 5432,679 Debit Cash $432,6%, credit lands Payable $432.619 Debit Coin 5412.615, debit Premium on tonds Payable $17,381 credt Bonds Payable $450.000 Prey 132 !!! Next > . On July 1. Shady Creek Resort borrowed $290,000 cash by signing a 10-year, 10% installment note requiring equal payments each June 30 of 547196 What amount of interest expense will be included in the first annual payment? Multiple Choice $29,000 $47196 O $18.196 0 $221804 $19,000