Sweetwater Company sells 5100,000 of 17%, 21 year bonds for 92 on April 1, 2020. The market rate of interest on that day is 17 50% Interest is paid each year on April 1 Sweetwater Company uses the straight line amortization method On December 31, 2020, Sweetwater Company made the following adjusting entry (Click the icon to view the Write the journal entry required Journal entry - X (Record debits first, thence Journal Entry Accounts 2020 2021 Credit Debit 13,036 Apr Dec 286 31 Interest Expense Discount on Bonds Payable Interest Payable 12.750 Print Done