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Question 4 1 points Save Answer On January 1, a company issued and sold a $400,000,7%, 10-year bond payable, and received proceeds of $392,000. 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: Debit Bond Interest Expense $14,000, debit Discount on Bonds Payable $200: credit Cash $14,200 Debit Bond Interest Expense $13,800, debit Discount on Bonds Payable $200: credit Cash $14.000 Debit Bond Interest Expense $14.400; credit Cash $14,000 credit Discount on Bonds Payable $400 Debit Bond Interest Expense $28,000 credit Cash $28,000