Martin Corporation Sells $300,000,10%,10-Year Bonds at Face Value on January $$\begin{array} {| l l | l| } \hline \text { Cash } && 300,000 \\\hline & \text { Bonds Payable } & 300,000 \\\hline\end{array}$$

Martin Corporation sells $300,000,10%,10-year bonds at face value on January 1.Interest is paid on January 1 and July 1.The entry to record the issuance of the bonds on January 1 is:

A)
$$\begin{array} {| l l | l| } \hline \text { Cash } && 300,000 \\\hline & \text { Bonds Payable } & 300,000 \\\hline\end{array}$$
B)
$$\begin{array} { | r | r | } \hline \text { Cash } & 300,000 \\\hline \text { Interest Payable } & 30,000 \\\hline \text { Bonds Payable } & 270,000 \\\hline\end{array}$$
C)
$$\begin{array} { |l | l |} \hline\text { Cash } & 270,000 \\\hline \text { Interest Expense } & 30,000 \\\hline \text { Bonds Payable } & 300,000\\\hline\end{array}$$
D)
$$\begin{array} { | c | l | } \hline \text { Bonds Payable } & 270,000 \\\hline \text { Interest Expense } & 30,000 \\\hline \text { Bonds Payable } &300,000 \\\hline\end{array}$$