A company Issued 9%, 15-year bonds with a par value of $590,000 that pay Interest semiannually. The market rate on the date of Issuance was 9%. The journal entry to record each semiannual Interest payment is: 12 Multiple Choice Debit Bond Interest Expense $26.550, credit Cash $26,550. Debit Bond Interest Expense $53,100: credit Cash $53,100. Debit Bond Interest Payable $39.333 creat Cash $39.333. Debit Bond Interest Expense $540,000: creat Cash $540,000. No entry is needed, since no Interest is paid until the bond is que.