A govemment issued $4 million of general obligation bonds on November 1, 2022, to build a firehouse. The first debt service payment ($200,000 principal plus 6 percent interest per annum on outstanding debl) is due November 1, 2023. To prepare government-wide financial statements al December 31, 2022, what journal entry is needed regarding debt service? O a. No journal entry is needed O b. Interest expense Interest payable Oc. Interest expense Bond principal expense Debl service payable Od. Interest expense Interest payable 40,000 40,000 33,333 240,000 40,000 73,333 240,000