On January 1, a company issues bords dated January 1 with a par value of $300,000. 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 $288.413. The journal entry to record the issuance of the bond is: Multiple Choice Debit Cash $288.413, credit Bonds Payable $288.413 Debit Cash $288.413; debit Premium on Bonds Payable $11,587. credit Bonds Payable $300.000 Debit Cash $288.413, debit Discount on Bonds Payable $11.587. credit Bonds Payable $300.000 Debit Cash $300,000 credit Discount on Bonds Payable $11587: credit Bonds Payable $288.413 On January 1, a company issued and sold a $396,000, 7%, 10-year band payable, and received proceeds of $391,000. Interest is payable each June 30 and December 31. The company uses the straight-line method to amortize the discount. The journal entry to record the first interest payment is: Multiple Choice Debit Bond Interest Expense $27720 Credit Cash $27720 Debit Bond Interest Expense $14.110 Credit Cath $13,860, credit Discount on Bonds Payable $250 Debit Bond Interestinpente 513,610, debit Discount on Bonds Payable $250 credit Cash $3,000 Debit fond Interest importe $10.060, debit Discount on Bonds Payable $250; Credit Cath $1410 Debit Blond Interest Expense $13,860. Credit Cash 513860