Given the following information from an amortization table for December 31, prepare the journal entry to record the payment of interest. 6% Cash Interest $42,000 5% Effective Interest $35,333 Premium Amortization $6,667 Carrying Value $700,000 Account Debit Credit 35,333 6,667 December 31 Interest Expense Discount on Bonds Payable Cash 42,000 Account Debit Credit December 31 Interest Payable 42,000 Premium on Bonds Payable Interest Expense 6,667 35,333 C. Account Debit Credit December 31 Interest Expense Premium on Bonds Payable 35,333 6,667 42,000 Credit Cash Account Debit December 31 Interest Expense Discount on Bonds Payable 35,333 6,667 Bonds Payable 42,000