d $900,000 of 7% bonds at 103, which are due on

Practice Exercise 17-2 On January 1, 2017, Blossom, inc. purchased 10% bonds having a maturity value of $457 bonds are dated January 1, 2017, and mature January 1, 2021, with interest receivable 0 fo. S 47 i 80 i The bonds provide the bondholders with an 9% yield. Th on January 1 of each year. Blossom, Inc. uses the effective interest method to discount or premium. The bonds are classifled as available-for-sale. The fair value of the bonds at December 31 of each year-end is as follows. 2017 $466,900 2018 $467,800 2019 $462,800 2020 $457,000 Your answer is correct. Prepare the journal entry at the date of the bond purchase. (Round answers to 2 decimal places, e.g. 5,125.67, Credit account when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter o titles are automatically indente for the amounts.) Date Account Tities and Explanation Debit Credit Jan. 1, 201 Debt Investments 471807.7 Cash 471807.71 SHOW LIST OF ACCOUNTS SHOW