Question 3 (1 point) A company issued 9%, 15-year bonds with a par value of $490,000 that pay interest semiannually. The market rate on the date of issuance was 9%. The journal entry to record each semiannual interest payment is: OA) Debit Bond Interest Expense $440,000; credit Cash $440,000. O B) Debit Bond Interest Expense $22,050; credit Cash $22,050. w O C) Debit Bond Interest Expense $44,100; credit Cash $44,100. O D) Debit Bond Interest Payable $32,667; credit Cash $32,667. O E) No entry is needed, since no interest is paid until the bond is due