Blossom Electric sold $$5\mathrm{.}76$ million of $10\%,10-$ year bonds on January $1,2021.$ The bonds were dated January $1,2021,$ and paid interest on January $1.$

Your answer is partially correct.

Assume that on January $1,2023,$ when the bonds' amortized cost was $$5,460,480,$ the company redeemed the bonds at $102.$ Record the redemption of the bonds assuming that interest for the period had already been paid. $($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 $0$ for the amounts.$)$

Date Account Titles and Explanation

Debit

Credit

Jan. $1$

Bonds Payable

Loss on Bond Redemption

Cash

$($To record redemption of bonds.$)$The bonds were sold at $94.$

$($a$)$

Your answer is correct.

Prepare the journal entry to record the issuance of the bonds on January $1,2021.($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 O for the amounts.$)$

$\backslash$table$[[$Date$,$Account Titles and Explanation,Debit,Credit$],[\backslash$table$[[$Jan$.1,],[2021]],,,]]$

Assume that at December $31,2021,$ $$23,040$ of the discount has been amortized. Show the balance sheet presentation of the non$-$current liability at December $31,2021.$

BLOSSOM ELECTRIC

Balance Sheet $($Partial$)$

December $31,2021$

Non$-$Current Liabilities

Bonds Payable

$