TB MC Qu. 10.97 (Algo) On January 1, a company issued... On January 1, a company issued and sold a $410,000,5%,10-year bond payable, and received proceeds of $405,000. Interest is payable each June 30 and December 31 . The company uses the straight-line method to amortize the discount. The journal entry to record the first interest payment is: Multiple Choice Debit Bond Interest Expense \$10.250, credir Cosh 510.250. Debit Bond interest Expense $20,500, credit Cosh $20,500 Debit Bond Interest Expense $10,000, debir Discount on Bonds Poyable $2.50, credit Cash $10,250 Debit Bond Interest Expense $10,250, credit Cash $10,250, Debit Bond Interest Expense $20,500; credit Cash $20,500 Debit Bond Interest Expense \$10,000, debit Discount on Bonds Poyoble \$250; credit Cosh $10,250 Debit Bond Interest Expense \$10,250, debit Discount on Bonds Poyeble $250; credit Cosh $10,500 Debit Bond Interest Expense \$10,500, credit Cosh \$10,250; credit Discount on Bonds Payoble \$250