On January 1, 2021, Blossom Ltd., a public company, purchased $522,000 of 5-year, 5% bonds at par from Ayayai Corporation. Interest is received semi-annually on July 1 and January 1. Blossom purchased the bonds to earn interest. At December 31, 2021, the bonds were trading at 102. Prepare the journal entry to record the purchase of the bonds on January 1. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1 (To record purchase of bond investment.) Prepare the journal entry to record the receipt of interest on July 1. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation July 1 (Collection of interest revenue.) Debit Credit Prepare any adjusting entries required at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Dec. 31 Dec. 31 (To accrue interest revenue.) (To record fair value adjustment.) Debit Credit