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. Prepare an amortization schedule for the first three interest payments. (Roundwers 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 Bond Amortized Cost Date Jan 1, 2021 $ July 1, 2021 Jan 1, 2022 July 1, 2022 Prepare the journal entry to record the first interest payment on July 1, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent 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 July 1, 2021 (To record interest payment.) Prepare the adjusting journal entry on December 31, 2021, to accrue the interest expense. (Credit account titles are automatically indented when the amount is entered. Do not indent 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.) Prepare the journal entry for the payment of interest on January 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent 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 Jan 1, 2022 [To record interest payment)