Question 34 (2 points) On January 1, Chastain Corporation sold $1,000,000, 10 year, 8% bonds at face value. The journal entry to record this transaction is debit Cash $1,000,000; credit Bonds Payable $1,000,000 debit Cash $1,000,000; credit Interest Expense $1,000,000 debit Bonds Payable $1,000,000: credit Cash $1,000,000 debit Interest Expense $1,000,000; credit Cash $1,000,000