The adjusting entry to record the amortization of a discount on bonds payable is a. debit Interest Expense, credit Discount on Bonds Payable Ob. debit Discount on Bonds Payable, credit Interest Expense Oc. debit Interest Expense, credit Cash Od. debit Bonds Payable, credit Interest Expense Use the following table to answer the question. Periods 5% 6% 7% 10% 1 0.95238 0.94340 0.93458 0.90909 2 0.90703 0.89000 0.87344 0.82645 3 0.86384 0.83962 0.81630 0.75132 4 0.82270 0.79209 0.76290 0.68301 5 0.78353 0.74726 0.71299 0.62092 6 0.74622 0.70496 0.66634 0.56447 7 0.71068 0.66506 0.62275 0.51316 8 0.67684 0.62741 0.58201 0.46651 9 0.64461 0.59190 0.54393 0.42410 10 0.61391 0.55840 0.50835 0.38554 What is the present value of $31,100 to be received in six years, if the market rate is 10% compounded annually? Round your answer to two decimal places. 17,555.017