Brief Exercise 10-19 (Part Level Submission) Sweetwood Company issues $5 million, 10-year, 9% bonds at 96, with interest payable annually on January 1. The straight-line method is used to amortize bond discount. (a) Your answer is correct. Prepare the journal entry to record the sale of these bonds on January 1, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Cash 48000 Discount on Bonds Payable 200000 T Bonds Payable 5000000 SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT (b) Your answer is partially correct. Try again. Prepare the adjusting journal entry to record interest expense and bond discount amortization on December 31, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Interest Expense 235000 Discount on Bonds Payable T 1000 Interest Payable 225000 SHOW LIST OF ACCOUNTS LINK TO TEXT