Required information A company issued 11% bonds, dated January 1, with a face amount of $420,000 on January 1, 2021. The bonds mature in 4 years. The market rate of interest for similar bonds was 9%. Interest is paid semiannually on June 30 and December 31 The company uses the effective Interest method. The bonds issued for a price of $447703. Use the information above to answer the questions below. The Journal entry for interest paid on December 31, 2021 will include a Click to select) debit to Discount on Bonds Payable for $3,086 debit to interest Expense for $3,086 debit to Premium on Bonds Payable for $3,086 debit to Interest Expense for $23,100