On January 1, 2020, the Cakery issued at a bond at a discount. It pays interest semiannually on July 1 and January 1. The Cakery has a December 31 year end. The adjusting entry for interest on December 31, 2020 would include a debit to Interest Expense, a credit to Discount on Bonds Payable and a credit to Cash debit to interest Expense, a credit to Discount on Bonds Payable, and a credit to interest Payable debit to Interest Expense, a debit to Discount on Bonds Payable, and a credit to interest Payable debit to Interest Expense, a debit to Discount on Bonds Payable, and a credit to Cash