Baxter Company issued $731,000, 8%, 3-year bonds for 102 ,with interest paid annually. Assuming straight - line amortization, what is the journal entry for the first interest payment? O A. debit Cash for $63,353; credit Discount on Bonds Payable for $4,873 and credit Interest Expense for $58,480 O B. debit Interest Expense for $63,353; credit Discount on Bonds Payable for $4,873 and credit Cash for $58,480 O c. debit Cash for $53,607 and debit Premium on Bonds Payable for $4,873; credit Interest Expense for $58,480 D. debit Interest Expense for $53,607 and debit Premium on Bonds Payable for $4,873; credit Cash for $58,480