A Company Issued 8%,15-Year Bonds with a Par Value of $550,000.The

A company issued 8%,15-year bonds with a par value of $550,000.The current market rate is 8%.The journal entry to record each semiannual interest payment is:

A) $\begin{array}{|l|r|r|}\hline \text { Bond Interest Expense } & 22,000 & \\\hline \text { Cash } & & 22,000 \\\hline\end{array}$
B) $$\begin{array} { | l | c | c | } \hline \text { Bond Interest Expense } & 44,000 & \\\hline \text { Cash } & & 44,000 \\\hline\end{array}$$
C) $$\begin{array} { | l | c | c | } \hline \text { Bond Interest Expense } & 555,000 & \\\hline \text { Cash } & & 555,000 \\\hline\end{array}$$
D) $$\begin{array} { | l | c | c | } \hline \text { Bond Interest Expense } & 660,000 & \\\hline \text { Bond Payable } & & 660,000 \\\hline\end{array}$$
E) No entry is needed, since no interest is paid until the bond is due