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Blossom Corporation issued $2.22 million of 7 year, 1% bonds dated January 1, 2021, for $1.941,537. The market interest rate when the bonds were issued

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Blossom Corporation issued $2.22 million of 7 year, 1% bonds dated January 1, 2021, for $1.941,537. The market interest rate when the bonds were issued was 3. Interest is payable semi-annually on January 1 and July 1. Blossom has a December 31 year end. 3799935ldodic Prepare the journal entry to record the first interest payment on July 1, 2021. (Credit account titles are automatically indented when the ane no entry is required, select "No Entry for the account titles and enter for the amounts) Date Account Titles and Explanation July 1, 2021 Debit Credit (To record interest payment.) Prepare the adjusting journal entry on December 31, 2021, to accrue the interest expense. (Credit account titles are automatically indented will manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation Dec. 31, 2021 (To accrue interest expense.) o e L E O Type here to search u ve dccount titles and enter for the amounts.) Date Account Titles and Explanation Dec. 31, 2021 Debit (To accrue interest expense.) Prepare the journal entry for the payment of interest on January 1, 2022. (Credit account titles are automati entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Date Account Titles and Explanation Jan. 1, 2022 (To record interest payment.)

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