Sunny Day Company sells $250,000 of 1 1%, 10-year bonds for 70.2616 on April 1, 2016. The market rate of interest on that day is 17.5%. 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 final answer calculations are rounded to the nearest whole number.) O A. Cash 250,000 Discount on Bonds Payable Bonds Payable 74,346 175,654 OB. Cash 175,654 Discount on Bonds Payable 74,346 Bonds Payable 250,000 OC. Cash 250,000 Bonds Payable 250,000 O D. Cash 175,654 Bonds Payable 175,654