On January 1, a company issues bonds dated January 1 with a par value of $350,000. The bonds mature in 5 years. The contact rate is 7% and interest is paid semiannually on June 30 and December 31. The market rate is 6% and the bonds are sold for $364 930. The journal entry to record the first interest payment using straight-line amortization is: (Rounded to the nearest dollar) . Murple Choice Debition interest Expense $123.credit Premium on Bonds Payable $1493 cred Ch 52250 Debit Bond interest Expense 510757; debit Discount on Bonds Payable $1493 credit Cash $12.250 Det onderst Expense $60743, credit Discount on Bonds Payable $1493. Credit Cash $12.250 Debit interest Payable 512.250, Credit Cash 512250 De Bond Interest Expense $10757; debit Premium on Bonds Payable $143 Credit Cash 512250