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Blossom Ltd. issued 710,000,12%,10-year bonds on December 31,2019, for 640,000. Interest is payable annually on December 31. Blossom Company uses the straight-line method to amortize

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Blossom Ltd. issued 710,000,12%,10-year bonds on December 31,2019, for 640,000. Interest is payable annually on December 31. Blossom Company uses the straight-line method to amortize bond premium or discount. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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