On October 1, 2020 Waterway Industries issued 4%, 10-year bonds with a face value of $8020000...

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On October 1, 2020 Waterway Industries issued 4%, 10-year bonds with a face value of $8020000 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 $320800 to Premium on Bonds Payable. O debit of $320800 to Discount on Bonds Payable. O credit of $160400 to Interest Payable. credit of $7699200 to Bonds Payable. On October 1, 2020 Waterway Industries issued 4%, 10-year bonds with a face value of $8020000 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 $320800 to Premium on Bonds Payable. O debit of $320800 to Discount on Bonds Payable. O credit of $160400 to Interest Payable. credit of $7699200 to Bonds Payable.