On January 1, Parson Freight Company issues 7.5%, 10-year bonds with a par value of $2,100,000. The bonds pay interest semiannually. The market rate of interest is 8.5% and the bond selling price was $1,960,409. The bond issuance should be recorded as: Multiple Choice Debit Cash $1,960,409; debit Discount on Bonds Payable $139,591; credit Bonds Payable $2,100,000. Debit Cash $1,960,409; credit Bonds Payable $1,960,409. Debit Cash $1,960,409; debit Interest Expense $139,591; credit Bonds Payable $2,100,000. Debit Cash $2,100,000; credit Bonds Payable $2,100,000. Debit Cash $2,100,000; credit Bonds Payable $1,960,409; credit Discount on Bonds Payable $139,591