Question: SavedHelp Save & Exit Sub On January 1, Parson Freight Company issues 75%, 10-year bonds with a par value of $3,600,000. The bonds pay interest

SavedHelp Save & Exit Sub On January 1, Parson Freight Company issues 75%, 10-year bonds with a par value of $3,600,000. The bonds pay interest semiannually. The market rate of interest is 8.5% and the bond selling price was $3,360,701. The bond issuance should be recorded as: Multiple Choice Debit Cash $3,360,701; debit Interest Expense $239,299; credit Bonds Payable $3,600,000. Debit Cash $3,360,701; credit Bonds Payable $3,360,701

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