On January 1, 2022, a business issued $500,000, 8% bonds payable at 103 in order to finance a plant expansion. The bonds mature in 5 years and pay interest annually on December 31. The journal entry to record issuance of the bonds includes:

		a debit to cash of $515,000
		a credit to bonds payable of $515,000
		a debit to discount on bonds payable of $15,000
		a debit to bond interest expense of $37,000.