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Blossom Company issued $710,000, 12%, 10 year bonds on December 31, 2021, for $640,000. Interest is payable annually on December 31. Blossom Company uses the

Blossom Company issued $710,000, 12%, 10 year bonds on December 31, 2021, for $640,000. Interest is payable annually on December 31. Blossom Company uses the straight-line method to amortize bond premium or discount. Prepare the journal entry to record the payment of interest and the discount amortization on December 31, 2022

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