On January 1, Parson Freight Company issues 8.5%, 10-year bonds with a par value of $4,300,000. The bonds pay interest semiannually. The market rate of interest is 9.5% and the bond selling price was $4,007,812. The bond issuance should be recorded as: Multiple Choice Debit Cash $4,300,000; credit Bonds Payable $4,300,000 Debit Cash $4,007,812; credit Bonds Payable $4,007,812 O Debit Cash $4,300,000; credit Bonds Payable $4,007,812; credit Discount on Bonds Payable $292,188. Debit Cash $4,007,812, debit Discount on Bonds Payable $292,188; credit Bonds Payable $4,300,000 Debit Cash $4,007812; debit interest Expense $292,188, credit Bonds Payable $4,300,000