Expressway Insurance Corp. issued $750,000 of 3.5 percent, 9-year bonds at the market price of 102.50. Record the journal entry for the issuance of the bonds on May 6. Include an explanation. Record the journal entry for the issuance of the bonds. Include an explanation. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date May 6 Accounts Debit Credit Bonds Payable Cash Discount on Bonds Payable Interest Expense Interest Payable Premium on Bonds Payable