On January 1, a company issues bonds dated January 1 with a par value of $350,000. The bonds mature in 5 years. The contract rate is 76, and interest is pold semiannually on June 30 and December 31. The market rate is 8% and the bonds are sold for $335,819. The Journal entry to record the first interest payment using straight-line amortization is Multiple Choice Debit interest Expense $10,83190, debit Discount on Sonds Payable $1418.10 credit Cash 512250,00 Debit interest Expense $13,668:10, credit Discount on Bonds Payable $1418.10, credit carn $12.250.00 Debit Interest Expense $12.250.00. Credit Cash $12.250.00 Debit interest Expense $13,68010, credit Premium on Bonds Payable $1418.10, Credit Can $12.250.00 Debit interest Payable $12.25000 Credit Cash $12.25000