020 i Saved Help Save & Exit Submit On January 1, a company Issued and sold a $394,000, 9%, 10-year bond payable, and received proceeds of $389,000 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 22 Multiple Choice Debit Bond Interest Expense $17730; debit Discount on Bonds Payable $250; credit Cash $17,980 Debit Bond Interest Expense $17,980 credit Cash $17.730: credit Discount on Bonds Payable $250 Debit Bond Interest Expense $17730; credit Cash $17,730 Debit Bond Interest Expense $35.450; credit Cash $35,460 Deaf bord met Expurce $480 debit Discount on Bonds Pays $250 creat Cash $17700