A company issued 9%, 15-year bonds with a par value of $620,000 that pay interest semiannually. The market rate on the date of issuance was 9%. The journal entry to record each semiannual interest payment is: Multiple Choice No entry is needed, since no interest is paid until the bond is due. O Debit Bond Interest Expense $570,000, credit Cash $570,000. O O Debit Bond Interest Expense $55,800; credit Cash $55.800. O O Debit Bond Interest Payable $41,333; credit Cash $41,333. O Debit Bond Interest Expense $27,900, credit Cash $27,900