Question 17 5 pts The entry to record the amortization of a premium on bonds payable is: debit Premium on Bonds Payable, credit Interest Expense O debit Premium on Bonds Payable, credit Bonds Payable debit Interest Expense, credit Premium on Bonds Payable debit Bonds Payable, credit Interest Expense Question 18 5 pts On March 1, Sullivan Inc. issued $700,000 of 10-year, 11% bonds at an effective interest rate of 10%, receiving $743,625. Interest is payable semioannually on March 1 and September 1 . The ournal entry to sell the bonds would include a: debit to Bonds Payable for $700,000 none of these credit to Cash for $743,625 credit to Premium on Bonds Payable for $43,625 Question 19 5 pts Using information from the previous question, the entry to record the first interest payment and amortized premium for six months using the straight-line method would include a: O debit to Interest Payable for $36,319 none of these debit to Cash for $38,500 debit to Premium on Bonds Payable for $2,181 Question 20 5 pts Bonds Payable has a balance of $900,000 and Discount on Bonds Payable has a balance of $45,000. The carrying amount of the bonds is: $945,000 $855,000 $45,000 $900,000