1. On September 1, 2021, Blossom Corporation issued $520,000 of 10-year, 3% bonds at 95. Interest is payable semi-annually on September 1 and March 1. Blossom's fiscal year end is February 28.

Is the market rate of interest higher or lower than 3%?

Market interest rate is select an option lowerhigher than 3%.

Record the issue of the bonds on September 1, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Sept. 1	enter an account title to record issuance of bonds on September 1	enter a debit amount	enter a credit amount
	enter an account title to record issuance of bonds on September 1	enter a debit amount	enter a credit amount
	(To record issuance of bonds.)

Record the accrual of interest on February 28, 2022, assuming the semi-annual amortization amount for this interest period is $882. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Feb. 28	enter an account title to accrue interest expense on February 28	enter a debit amount	enter a credit amount
	enter an account title to accrue interest expense on February 28	enter a debit amount	enter a credit amount
	enter an account title to accrue interest expense on February 28	enter a debit amount	enter a credit amount
	(To accrue interest expense.)

Record the payment of interest on March 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Mar. 1	enter an account title to record interest payment on March 1	enter a debit amount	enter a credit amount
	enter an account title to record interest payment on March 1	enter a debit amount	enter a credit amount
	(To record interest payment.

Please answer in the format as presented, thank you