On January 1, a company issued and sold a $393,000, 6%, 10-year bond payable, and received proceeds of $388,000. Interest is payable each June 30 and December 31. The company uses the straight-line method to amortize the discount. The journal entry to record the first interest payment is: Multiple Choice Debit Bond Interest Expense $11,790; credit Cash $11,790. Debit Bond Interest Expense $23,580; credit Cash $23,580. Debit Bond Interest Expense $11,540; debit Discount on Bonds Payable $250; credit Cash $11,790. Debit Bond Interest Expense $12,040; credit Cash $11,790; credit Discount on Bonds Payable $250. Debit Bond Interest Expense $11,790; debit Discount on Bonds Payable $250; credit Cash $12,040.