On January 1, a company issues bonds dated January 1 with a par value of $220,000. 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 $228,930 The journal entry to record the first interest payment using straight-line amortization is: (Rounded to the nearest dollar.) Multiple Choice Debt Bond interest Expense $10,793, credit Premium on Bonds Payable 5893. credit Coil 5900 Debit interest Payable $9.900, credit Cash $9,900 Deblt Bond Interest Expense $9.007 debit Discount on Bonds Payable $893: credit Cash $9.900 Debit Bond Interest Expense $10,793; credit Premium on Bonds Payable $893; credit Cash $9,900. Debit Interest Payable $9,900; credit Cash $9,900. Debit Bond Interest Expense $9,007, debit Discount on Bonds Payable $893, credit Cash $9,900. Debit Bond Interest Expense $9,007, debit Premium on Bonds Payable $893, credit Cash $9,900. Debit Bond Interest Expense $10,793: credit Discount on Bonds Payable $893; credit Cash $9.900