A semi-annual bond is sold on 01/01/2020 with a face value of $250,000 and a stated rate of 5%. The market rate is currently 6%, and the present value of the bond is calculated as $231,403.16. Select the correct journal entry used for the first interest payment of this bond: O a. 6,942.09 Interest Expense Bonds Payable Cash 692.09 6,250.00 b. 6,942.09 Interest Expense Bonds Payable Cash 692.09 6,250.00 OC. 6,250.00 Interest Expense Bonds Payable Cash 692.09 6,942.09 ---- Od. 6,250.00 Interest Expense Bonds Payable Cash 692.09 6,942.09