In each of the following independent cases, the company closes its books on December 31. Use the effective interest method for discount and premium amortization. Amortize premium or discount on interest dates and at year end. Assume that no reversing entries were made.

Blossom Co. sells $400,000 of 6% bonds on March 1, 2020. The bonds pay interest on September 1 and March 1. The due date of the bonds is September 1, 2023. The bonds yield 9%. Give entries through December 31, 2021. Construct an amortization table and prepare all of the relevant journal entries from the time of sale. (Hint: Refer to Chapter 3 for tips on calculating and use the calculations from the financial calculator for the journal entries.)