Bow company sells $$100,100$ of $15\%,19$ year bonds for $90$ on April $1,2020.$ The market rate of interest on that day is $15\mathrm{.}5\%.$ Interest is paid each year on April $1.$ Bow company uses the straight line amortization method. Write the adjusting journal entry required at December $31,2020.$Wagdy uses the straight$-$line amortization method.

Journal entry worksheet

$12$

Record the payment of interest on December $31$ using straight$-$line

amortization.

Note: Enter debits before credits.