On January 1, Parson Freight Company issues 7.5%,10-year bonds with a par value of $4,100,000. The bonds pay interest semlannually. The market rate of interest is 8.5% and the bond selling price was $3,821,402. The bond issuance should be recorded as: Debit Cash $4,100,000, credit Bonds Payable $4,100,000. Debit Cash $3,821,402; credit Bonds Payable $3,821,402 Debit Cash \$4,100,000; credit Bonds Payable \$3,821,402, credit Discount on Bonds Payable \$278.598. Debit Cash $3,821,402, debit Discount on Bonds Payable $278,598; credit Bonds Payable $4,100,000. Debit Cash \$3,821,402, debit Interest Expense $278,598, credit Bonds Payable $4,100,000