21 Marthia Inc., issued $100,000 of 10-year, 12% bonds for 105.9 on April 1, 2020 when the market interest rate was 11%. The bonds pay interest annually on April 1, beginning in 2021. Effective Interest amortization is used by the company. What entry is required April 1, 2021 for the first interest payment? 8 01:08:23 Multiple Choice Interest expense Premium on bonds payable Cash 11,649 351 12,000 12,000 Interest expense Cash 12,000 12,708 Interest expense Discount on bonds payable Cash 708 12,000 Interest expense Premium on bonds payable Cash 12,000 708 12,708