Spring Company sells $100,000 of 11%, 15-year bonds for 70.039 on April 1, 2018. The market rate of interest on that day is 16.5. Interest is paid each year on April 1. The entry to record the sale of the bonds on April 1 would be as follows: (Intermediary and file calculations are rounded to the nearest whole number) . 100,000 Cash Bonds Payable 100.000 . 70.039 Cash Bonds Payable 70,039 OC. Cash 100,000 BRE OC. 100,000 Cash Discount on Bonds Payable Bonds Payable 29,961 70,039 D 70,039 Cash Discount on Bonds Payable Bonds Payable 29,961 100,000