On October 1, 2020 Crane Company issued 5%, 10-year bonds with a face value of $8040000 at 104. Interest is paid on October 1 and April 1, with any premiums or discounts amortized on a straight-line basis. The entry to record the issuance of the bonds would include

a credit of $7718400 to Bonds Payable.

credit of $201000 to Interest Payable.

credit of $321600 to Premium on Bonds Payable.

debit of $321600 to Discount on Bonds Payable.