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Blossom Company issued $305,000,6%,10-year bonds on January 1,2022 , for $328.550. This price resulted in an effective-interest rate of 5% on the bonds. Interest is
Blossom Company issued $305,000,6%,10-year bonds on January 1,2022 , for $328.550. This price resulted in an effective-interest rate of 5% on the bonds. Interest is payable annually on January 1. Blossom uses the effective-interest method to amortize bond premium or discount. (a) E. Your answer is partially correct. Prepare the journal entry to record the issuance of the bonds. (Round answers to 0 decimal places, eg. 15,250. Credit occount tisies are automatically indented when amount is entered. Do not indent manuolly.)
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