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Blossom Company issued $399,000,7%,15-year bonds on December 31,2021, for $379,050, Interest is payable annually on December 31. Blossom uses the straight-line method to amortize bond

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Blossom Company issued $399,000,7%,15-year bonds on December 31,2021, for $379,050, Interest is payable annually on December 31. Blossom uses the straight-line method to amortize bond premium or discount. (a) - Your answer is partiallycorrect. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry br required, select "No Entry" for the account tities and enter Ofor the amounts) Prepare the journal entry to record the payment of interest and the discount amortization on December 31, 2022. (Credit account titles are automatically indented when 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.)

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