Mayberry, Inc. issued $100,000 of 10 year, 12% bonds dated April 1, 2016, for $102,360 on April 1, 2016. The bonds pay interest annually on April 1, beginning in 2017 Straight-line amortization is used by the company. What entry is required at April 1, 2017 for the first interest payment? Interest expense 12,236 Premium on bonds payable 236 Cash 2.000 Interest expense 12,000 Premium on bonds payable 236 Cash 12,236 Interest expense 12,000 Cash 2,000 Interest expense 11,764 Premium on bonds payable 236 Cash 12,000