A company issued 9%, 15-year bonds with a par value of $460,000 that pay interest semiannually. The market rate on the date of issuance was 9%. The Journal entry to record each semiannual interest payment is: Multiple Choice Debit Bond Interest Expense $20,700, credit Cash $20,700. Debit Bond Interest Payable $30,667, credit Cash $30,667 Debit Bond Interest Expense $410,000, credit Cash $410,000 No entry is needed, since no interest is paid until the bond is due. Debit Bond Interest Expense $41,400, credit Cash $41.400