On January 1, a company issues bonds dated January 1 with a par value of $390,000. The bonds mature in 5 years. The contract rate is 9%, and interest is paid semiannually on June 30 and December 31. The market rate is 8% and the bonds are sold for $405,830. The journal entry to record the first interest payment using the effective interest method of amortization is: (Rounded to the nearest dollar.) a. Debit Bond Interest Expense 19,133.00; credit Premium on Bonds Payable $1,583.00; credit Cash $17,550.00 b. Debit Interest Payable $17,550.00; credit Cash $17,550.00 c. Debit Interest Expense $16,233; debit Premium on Bonds Payable $1,317; credit Cash $17,550. d. Debit Bond Interest Expense $16,233.00; debit Discount on Bonds Payable $1,317.00; credit Cash $17,550.00.