On january 1, a company issues bonds dated january 1 with a par value of $340,000. the bonds mature in 5 years. the contract rate is 11%, and interest is paid semiannually on june 30 and december 31, the market rate is 10% and the bonds are sold for $353,122. the journal entry to record the issuance of the bond is: multiple choice 122 credi bonds payebie $353122 debit cash $353,122: credit bonds payable $353,122 debit cash $340,000, debit premium on bonds payable $13.122; credit bonds payable $353122. discussions so con debit cash $353122; credit discount on bonds payable $13122: credit bonds payable $340,000 debit bonds payable $340,000, debit bond interest expense $13,122; credit cash $353.122 debit cash $353122 credit premium on bonds payable $13,122; credit bonds payable