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Blossom Company purchased $1521000 of 10% bonds of Crane Company on January 1, 2025, paying $1430120. The bonds mature on January 1,2031: interest is payable

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Blossom Company purchased $1521000 of 10% bonds of Crane Company on January 1, 2025, paying $1430120. The bonds mature on January 1,2031: interest is payable each July 1 and January 1 . The discount of $90880 provides an effective yield of 11%. Blossom uses the effective-interest method and plans to hold these bonds to maturity. On July 1, 2025, Blossom should increase its Debt Investments account for the Crane Company bonds by $9090$5210$4545.$2607 Blossom Company purchased $1521000 of 10% bonds of Crane Company on January 1, 2025, paying $1430120. The bonds mature on January 1,2031: interest is payable each July 1 and January 1 . The discount of $90880 provides an effective yield of 11%. Blossom uses the effective-interest method and plans to hold these bonds to maturity. On July 1, 2025, Blossom should increase its Debt Investments account for the Crane Company bonds by $9090$5210$4545.$2607

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