Blossom Company sold $2,000,000, 5%, 10-year bonds on January 1, 2020. The bonds were dated January 1, 2020 and pay interest annually on January 1. Blossom Company uses the straight-line method to amortize bond premium or discount. (a) Your answer is correct. Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2020, assuming that the bonds sold at 101. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) ate Account Titles and Explanation 2020 Cash Premium on Bonds Payable Bonds Payable ., 2020 Interest Expense Debit Credit 2,020,000 98,000 Premium on Bonds Payable 2,000 Interest Payable eTextbook and Media 20,000 2,000,000 100,000