Question 25 /2 Current Attempt in Progress On January 1, 2018, Waterway Corporation issued $5200000, 10-year, 8% bonds at 104, Interest is payable annually on January 1. The journal entry to record this transaction on January 1, 2018 is 5200000 Cash Bonds Payable 5200000 Premium on Bonds Payable Cash 208000 5200000 5408000 Bonds Payable Cash 5408000 Bonds Payable Premium on Bonds Payable 5200000 208000 Cash 5408000 Bonds Payable 5408000