Question 29 On January 1, Hurley Corporation issues $1,000,000, 5-year, 12% bonds at 96 with interest payable on January 1 using the straight-line method will include a O debit to Interest Expense, $60,000. O debit to Interest Expense, $120,000. O credit to Discount on Bonds Payable, $8,000. debit to Discount on Bonds Payable, $8,000. on January 1. The entry on December 31 to record accrued bond interest and the amortization of bond discount