General Electric issued 8%, 15-year bonds with a par value of $450,000 that pay interest semiannually. The market rate on the date of issuance was 8%. The journal entry to record each semiannual interest payment is: Multiple Choice 0 O Debit Bond Interest Expense $36,000; credit Cash $36,000. 0 Debit Bond Interest Payable $30,000; credit Cash $30,000. O No entry is needed, since no interest is paid until the bond is due. C) Debit Bond Interest Expense $18,000; credit Cash $18,000. Debit Bond Interest Expense $400,000; credit Cash $400,000