Several years ago the company issued a $300,000, 5% bond. The Bond pays interest semi-annually each January 1 and July 1st. The bonds were sold at a discount. An amortization schedule follows: What is the adjusting entry as of the year ended May 31, 2020 Date Cash Interest Amortization Carrying Value 7/1/2019 7,500 8,100 600 270,600 1/1/2020 7,500 8,118 618 271,217 7/1/2021 7,500 8,136 637 271,854