On January 1,2014,Partridge Company Issued $50,000 of 6-Year Bonds with a Stated

On January 1,2014,Partridge Company issued $50,000 of 6-year bonds with a stated rate of 3%.The market rate at time of issue was 4%,so the bonds were discounted and sold for $47,331.Partridge uses the effective-interest rate of amortization for bond discount.Semiannual interest payments are made on June 30 and December 31 of each year.Which of the following is the correct journal entry to record the first interest payment? (Please round all amounts to the nearest whole dollar.)

A) $$\begin{array} { | l | r | r | } \hline \text { Interest expense } & 1,000 & \\\hline \text { Cash } & & 1,000 \\\hline\end{array}$$
B) $$\begin{array} { | l | r | r | } \hline \text { Interest expense } & 947 & \\\hline \text { Discount on bonds payable } & & 197 \\\hline \text { Cash } & & 750 \\\hline\end{array}$$
C) $$\begin{array} { | l | r | r | } \hline \text { Interest expense } & 750 & \\\hline \text { Discount on bonds payable } & 250 & \\\hline \text { Cash } & & 1,000 \\\hline\end{array}$$
D) $$\begin{array} { | l | r | r | } \hline \text { Interest expense } & 1,000 & \\\hline \text { Discount on bonds payable } & & 750 \\\hline \text { Cash } & & 250 \\\hline\end{array}$$