Blossom Electric sold $$4,050,000,8\%,10-$year bonds on January $1,2022.$ The bonds were dated January $1$ and pay interest annually Prepare the journal entries for interest and the amortization of the premium in $2022$ and $2023.($Credit account titles are

automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.$)$

Date

Account Titles and Explanation

Debit

Crec

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List of Accounts

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d$).$

Show the balance sheet presentation of the bond liability at December $31,2023.($Enter account name only and do not provide

descriptive information.$)$

Blossom Electric

Balance Sheet $($Partial$)$

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List of Accounts

on January $1.$ Blossom Electric uses the straight$-$line method to amortize bond premium or discount. The bonds were sold at $105.$

$($a$)$

Prepare the journal entry to record the issuance of the bonds on January $1,2022.($Credit account titles are automatically indented

when amount is entered. Do not indent manually.$)$

Date

Account Titles and Explanation

Debit

Credit

Jan. $1,$

$2022$

Premium on Bonds Payable

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List of Accounts

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$($b$)$

Prepare a bond premium amortization schedule for the first $4$ interest periods.