Exercise 15 17a (Part Level Submission) Blossom Corporation issued $600,000, 8%, 20 year bonds on January 1, 2020, for $545,226. This price resulted in an effective worst rate on the bonde lotereyanmar Blossom uses the effective interest method to amortize bond premium or discount Alter (c) Prepare the journal entry to record the payment of interest on January 1, 2021. (Round answers to decimal places, eg. 15,250. Credit account titles entered. Do not indent manually.) Date Account Titles and Explanation Jan. 1 Interest Payable Debit Credit Cash