Wuhan Whistles issues bonds dated January 1 with a par value of $210.000 on January 1. The bonds mature in 5 years. The contract rate is 17%, and interest is paid semiannually on June 30 and December 31. The market rate is 10% and the bonds are sold for $218.305. Wuhan Whistles journal entry to record the issuance of the bond is: Multiple Choice Debit Cash $218,105: credit Premium on Bonds Payable $8,105; credit Bonds Payable $210,000 Debit Cash $210,000; debit Premium on Bonds Payable $8305; credit Bonds Payable $218,305. Debit Cash $218,105; credit Discount on Bonds Payable $8,105; credit Bonds Payable $210,000. Debit Bonds Payable $210,000; debit Bond Interest Expense $8.105; credit Cash $218,105. Debit Cash $218,105; credit Bonds Payable $218,105.