A company issued 7%, 15-year bonds with a par value of $510,000 that pay interest semiannually. The market rate on the date of issuance was 7%. The journal entry to record each semiannual interest payment is: Multiple Choice Debit Bond Interest Expense $460,000; credit Cash $460,000. Debit Bond Interest Payable $34,000; credit Cash $34,000. Debit Bond Interest Expense $35,700; credit Cash $35,700. No entry is needed, since no interest is paid until the bond is due. Debit Bond Interest Expense $17,850; credit Cash $17,850