On January a company issues bonds dated January 1 with a par value of $400.000 The bonds mature in 5years. The contract rate is 11% and West is paid semanasily on June 30 and December 31 The market rate is 10 and the bonds are sold for $415,437 The Journal entry to record the first interest payment using t h e amortization is founded to the nearest dolor) hipiechoice Debt Contest 20:45 Preds 44 0 0 Credit D o or Bonds Payable $1544 Cr Cash $22.000 0.455 de Decore on Boods Pays $1544. MB 644 credit Premium on Bonds Payable 51544 Cred cash $2200