Sunset Insurance Corp. issued $950,000 of 3.75 percent, 11-year bonds at the market price of 93.00. Record the journal entry for the issuance of the bonds on April 1. Include an explanation. Record the journal entry for the issuance of the bonds. Include an explanation. (Record debits first, then credits. Select the explanation on the la: Journal Entry Date Accounts Debit Credit Apr. 1 Date Accounts Debit Cre Apr. 1 Bonds Payable Cash Discount on Bonds Payable Interest Expense Interest Payable Premium on Bonds Payable To issue 3.75%, 11-year bonds at a discount. To issue 3.75%, 11-year bonds at a premium. To issue 3.75%, 11-year bonds at par. To pay bonds payable at maturity. To pay semi-annual interest on bonds payable