Hanie's Hand Sanitizer start-up company issued 7%, 15-year bonds with a par value of $600,000 that pay interest semiannually. The market rate on the date of issuance was 7%. What would Hanie's Hand Sanitizer Company's journal entry be to record each semiannual interest payment? Multiple Choice O Debit Bond Interest Expense $42,000; credit Cash $42,000. Debit Bond Interest Expense $550,000; credit Cash $550,000 Debit Bond interest Payable $40,000; credit Cash $40,000.