On January 1 a company sued and sold a $400.000, % 10 year bond payable and received proceeds of $295.000 interest is payable each June 30 and December 31. The company uses the straight ane method for amortize the discount. The journal entry to record the first interest payment i Mule Cle Deba Banda Expense 16000 16000 Debit Bond interest Expence $1,000 det Discount on Bonds Payable $250 cm Cash $16.250 Debt Bond mast Expense $250 oedt Cash $1,000 crest Discount on Bunds Payable $250 Debit Bond interest Expense $750 t Dartoons Pays $250 Cash $6,000 Det Bond in Expense $32,000 credit Cash $32.000 On January 1, a company issued and sold a $400,000, 8% 10-year bond payable, and received proceeds of $395.000 erest is payable each June 20 and December 31. The company uses the highted to amortize the discount, The journal entry to record the first interest payment is Multiple Choice Debe Bond Interest Expense $1,000 cash $15,000 Debit Bond Incest Expenie $10,000, debt Discount on Bonds Payable $250, crudt Cash $16,250 Debe Bond rest Expense $16.250. credit Cash $16,000 credit Discount on Bonds Payable $250 Debit Blond interest Expense $6.750, debit Discount on Bonds Prystle $250, crede Cash S.000 Debit Bond Interest Expense $32.000 credit Cash $32,000