McPherson Corporation issued $100,000 of 10%, five-year bonds on January 1, 2020. for $92,280. The market interest rate when the bonds were issued was 12% Interest is paid semi-annually on January 1 and July 1. The first interest payment is July 1, 2020. McPherson's journal entry to record the interest expense on July 1, 2020, will include a O A. Credit to Interest Expense O B. Debit to Premium on Bonds Payable O C. Debit to Bonds Payable O D. Credit to Discount on Bonds Payable