Sunland Company Issued $4000000 of 6%, 10-year bonds on one of its interest dates for $3455000 to yield an effective annual rate of 8%. The effective-interest method of amortization is to be used. The journal entry on the first interest payment date, to record the payment of interest and amortization of discount will include a O debit to Bond Interest Expense for $320000. O debit to Bond Interest Expense for $240000. O credit to Discount on Bonds Payable for $36400. O credit to Cash for $276401. Save for Later Attempts: 0 of 1 used Submit