Need help with this.

On January 1, a company issues bonds dated January 1 with a par value of $520,000. The bonds mature in 5 years. The contract rate is 7%, and interest is paid semiannually on June 30 and December 31. The market rate is 8% and the bonds are sold for $498,930. Thejournal entry to record the second interest payment using the effective interest method of amortization is: Multiple Choice O Debit Interest Expense $16,442.78; debit Premium on Bonds Payable $1,757.22; credit Cash $18,200.00. Debit Interest Payable $18,200.00; credit Cash $18,200.00. Debit Interest Expense $16,442.78; debit Discount on Bonds Payable $1,757.22; credit Cash $18,200.00. Debit Interest Expense $19,957.22; credit Discount on Bonds Payable $1,757.22; credit Cash $18,200.00. Debit Interest Expense $20,027.50; credit Discount on Bonds Payable $1,827.50; credit Cash $18,200.00. 0000