On January 1, a company issued and sold a $410,000, 5%, 10-year bond payable, and received proceeds of $405,000. 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 $10.250, credit Cesh $10.250. Debit Bond Interest Expense $10,000; debit Discount on Bonds Payable $250 credit Cash $10.250. Debit Bond Interest Expense $20,500, credit Cash $20,500 Debit Bond Interest Expense $10.250, debit Discount on Bonds Payable $250, credit Cash $10,500 Debit Bond interest Expense $10,500, credit Cash $10.250 credit Discount on Bonds Payable $250