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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

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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 3x Interest is payable semi-annually on January 1 and July 1. Blossom has a December 31 year end. Prepare an amortization schedule for the first three interest payments. (Round answers to decimal places, s. 5.276.) BLOSSOM CORPORATION Bond Amortization Table Effective Interest Method Semi-Annual Interest Payments 1% Bonds Issued at market rate of 3% Interest Payment Interest Expense Discount Amortization Date Bond Amortized Cost Jan. 1.2021 $ July 1.2021 Jan. 1.2022 July 1.2022

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