On January 1, 2020, Blossom Company issued $580,000. 10%, 10-year bonds at face value. Interest is payable annually on January 1. Part 1 Part 2 Your answer is partially correct. Prepare the journal entry to record the accrual of interest on December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation 580000 Dec 31, 2020 Interest Expense 58000 Interest Payable Question 2 of 10 On January 1, 2020, Blossom Company issued $580,000. 10%, 10-year bonds at face value. Interest is payable annually on January 1 Part 1 Part 2 Part 3 Prepare the journal entry to record the payment of interest on January 1, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Credit Debit Date Account Titles and Explanation Jan 1.2021 Interest Payable Cash