advantages ol a fe. Essay Google Docs A Sample College Ap. Saved Help Save & Eslt Submit On January 1, a company issued and sold a $404,000, 6%, 10-year bond payable, and received proceeds of $399.000. Interest is payable each June 30 and December 31. The company uses the straight-line method to amortize the discount. The journal entry to record the first interest payment is: 20 Multiple Cholce Debit Bond Interest Expense $1870, detbit Discount on Bonds Paysble $250; credt Cash $12120. Debit Bond Interest Expense $12,370; credit Cash $12120, credit Discount on Bonds Payable $250 Debit Bond Interest Expense $12,120, credit Cesh $1212o. 6 of 25 SAMSUNG