On January 1, Health Corporation issues $3,000,000, 10-year, 8% bonds at 96 with interest payable on January 1. The entry on December 31 to record accrued bond interest and the amortization of bond discount using the straight-line method will include a credit to Discount on Bonds Payable, $24,000. debit to Interest Expense, $120,000. credit to Discount on Bonds Payable, $12,000. debit to Interest Expense, $240,000