On January a company issued and sold a $400.000,7% 10 year bond payable and received proceeds of $401.000 interest is payable each June 30 and Decomber 31 The company uses the straight line method to more the discount the journal ently to record the fusterest ayment Me Choice De Bondine Expore $28420.cred cash 28,420 Debit and interest Expense $14.210. det Discount on Bonds Pwable $250 credit Cash $14460 O Debt Blond interest Experte $13.960), debit Discourt on Blonds Payable $280 credit Can S420 Debt Bond Interest Expense $14.460. Credit Cash $14.2007, crede Discount on blonds Payable 5250 Debit Blond interest Expense 5210 credit Cash $14.200