1 Ottawa Company sells $100,900 of 18%, 24-year bonds for 90 on April 1, 2020. The market rate of interest on that day is 18%. Interest is paid each year on April 1. Ottawa Company uses the straight-line amortization method. Write the adjusting entry required at December 31, 2020. (Record debits first, then credits. Explanations are not required. Hold all decimals for interim calculations. Round your final answers to the nearest whole dollar.) Date Dec. 31, 2020 Accounts Debit Credit