On January 1, a company issues bonds dated January 1 with a par value of $330,000. The bonds mature in 5 years. The contract rate is 9%, and Interest is pald semiannually on June 30 and December 31. The market rate is 10% and the bonds are sold for $317.254. The Journal entry to record the issuance of the bond is: Multiple Choice Debit Bonds Payable $330,000; debit Bond Interest Expense $12.746; credit Cash $342.746. Debit Cash $317.254; debit Premium on Bonds Payable $12,746: credit Bonds Payable $330,000. O Debit Cash $317.254; credit Bonds Payable $317.254. Debit Cash $330,000: credit Discount on Bonds Payable $12,746; credit Bonds Payable $317.254. C O Debit Cash $317,254; debit Discount on Bonds Payable $12.746; credit Bonds Payable $330,000