On January 1, a company issues bonds dated January 1 with a par value of $300,000. The bonds mature in 5 years. The contract rate is 9% and interest is paid semiannually on June 30 and December 31. The bonds are sold for $312,177. The journal entry to record the issuance of the bond is: Select one: O a. Debit Cash $312.177; credit Premium on Bonds Payable $12.177: credit Bonds Payable $300.000 O b. Debit Bonds Payable $300,000; debit interest Expense $12.177: credit Cash $312.177. O c. Debit Cash $300,000: debit Premium on Bonds Payable $12.177: credit Bonds Payable $312.177 d. Debit Cash $312.177: credit Discount on Bonds Payable $12.177: credit Bonds Payable $300,000 Previous page Next page here to search HI