3 03. Based on the information in question 2 what is the joumal entry for the payment of $35,000 interest on 12/31/20207 ut of Select one: O a interest expenso Cash 35,000 35,000 35,000 35,000 Ob Notes payable Cash OC Loss from debt restructuring Cash 35,000 35,000 35,000 d. Interest payable Cash 35,000 + 04. On March 1, 2018, Brown Corporation issued 8% bonds dated February 1, 2018, the face amount of $500,000. The bonds were sold for the present value of the bonds on March 1, 2018 plus one-month accrued interest. The bonds mature on January 31, 2023. Interest is paid semiannually on July 31 and January 31, Brown's fiscal year ends on December 31 each year. The effective interest rate is 10% What is the appropriate discount rate used to derive the present value of the bonds on March 1, 2018? of Select one: O a 5% b.4% OC 10% d. 8% e cannot be determined