Blossom Company issued $$620,000,5\%,20-$year bonds on January $1,2022,$ at $101.$ Interest is payable annually on January $1.$ Blossom

uses straight$-$line amortization for bond premium or discount.

$($a$)$

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.$)$

Date Account Titles and Explanation

Debit

Credit

Jan. $1,$

$2022$

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List of Accounts

Attempts: $0$ of $5$ used

$($b$)$

Prepare the journal entry to record the accrual of interest and the premium amortization on December $31,2022.($Credit account

titles are automatically indented when amount is entered. Do not indent manually.$)$

Date

Account Titles and Explanation

Debit

Credit

Dec. $31,$

$2022$