Right Track Company sells $250,000 of 11%, 10-year bonds for 73.9048 on April 1, 2016. The market rate of interest on that day is 16.5%. Interest is paid each year on April 1. The issue price of the bond is $184,762. Right Track Company uses the straight-line amortization method. Write the adjusting entry required at December 31, 2016. (Record debit first, then credits. Exclude explanations from any journal entries. Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar.) Journal Entry Date Accounts Debit Credit 2016 Dec 31