The entry to record the semiannual payment and amortization of the discount using the straight-line method on a 10%, $200,000, 5-year bond issued at 97 would be to: debit Bond Interest Expense $10,600; credit Cash $10,000 credit Discount on Bonds Payable $600. debit Bond Interest Expense $10,600; credit Cash $10,600, None of the choices are correct. debit Bond Interest Expense $5,000; credit Cash $5,000. debit Bond Interest Expense $5,300; credit Cash $5,000; credit Discount on Bonds Payable $300