On July 1,2018, Snoopy Corporation issues $2,000,000 of 8 -year bonds, 5% bonds that pay interest semiannually. The selling price was for $2,134,655 when the market rate of interest was 4%. Snoopy Corporation uses the effective-interest method of amortization. Interest is paid each June 30 and December 31 . The entry to record the first semi-annual interest payment on December 31,2018 , will include a: Select one: a. debit to Interest Expense of $42,693 b. debit to Interest Expense of $50,000 c. credit to Interest Expense for $50,000 d. credit to Bonds Payable for $42,693