On January 1, 2021. Buffalo Ltd issued bonds with a maturity value of $5.05 willion for $4,839.920, when the market rate of interest was 74. The bonds have a contractual interest rate of 6% and mature on January 1, 2026. Interest on the bonds is payable semi- annually on July 1 and January 1 of each year. On January 1, 2021, Blossom Company, a public company purchased Buffalo Lid bonds with a maturity value of $1.01 million to earn interest on December 31, 2021, the bonds were trading at 99. Both companies year end is December 31 Click here to view the factor table. Present Value of 1 Click here to view the factor table Present Value of an Annuity of 1 For calculation purposes, we decimal places as displayed in the factor tablet provided) What amount did Blossom Company pay for Buffalo Ltd's bondel (Round answer to decimal places. 5.273 Blossom Company paid 5 Prepare the journal entry for Blossom Company (investor) on January 1, 2021. (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 for the amounts. Round answers to O decimal places, eg. 5,275.) Date Account Titles and Explanation Debit Credit Jan. 1 (To record purchase of investment.) Prepare a bond amortization schedule for Blossom Company for the first four interest periods. (Round answers to decimal places, eg. 5,275) Bond Discount Amortization Table Effective Interest Method-Semi-annual Interest Payments 6% Bonds Issued at market rate of 7% (B) Interest Revenue Discount Amortization Date (A) Interest Received (D) Bond Amortized Jan 1. 2021 July $ 1. 2021 Jan. 1 2022 July 1. 2022 Jan 1. 2023 omsl entries for Blossom Company to record (1) The receipt of interest on July 1, 2021. (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 for the amounts Round answers to decimal places es 5.2750 Date Account Titles and Explanation Debit Credit July 1 To record collection of interest on bonds) (2) The accruat of interest on December 31, 2021. (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 for the amounts. Round answers to decimal places, es. 5.275) Date Credit Debit Account Titles and Explanation Dec. 31 (2) The accrual of interest on December 31, 2021. (Credit accountities 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 for the amounts. Round answers to decimal places, es 5,2751 Date Account Titles and Explanation Debit Credit Dec. 31 (To accrue interest revenue) (3) The receipt of interest on January 1, 2022. Ordet occount titles are automatically indented when the amount is entired. Do not Indient manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Round answers to decimal places.es 5.275) Debit Credit Date Account Titles and Explanation Jan. 1 Collection of interest receivable) Show how the bonds and related income statement accounts would be presented in Blossom Company's fancial statements for the year ended December 31, 2021. Round answers to decimal places as 5.275) BLOSSOM COMPANY Balance Sheet (Partial BLOSSOM COMPANY Income Statement(Partial) Prepare the journal entry for Buffalo Ltd. (investee) on January 1, 2021. (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 for the amounts. Round answers to decimal places, eg. 5,275.) Date Account Titles and Explanation Debit Credit Jan. 1 (To record issuance of bonds payable.) On January 1, 2021. Buffalo Ltd issued bonds with a maturity value of $5.05 willion for $4,839.920, when the market rate of interest was 74. The bonds have a contractual interest rate of 6% and mature on January 1, 2026. Interest on the bonds is payable semi- annually on July 1 and January 1 of each year. On January 1, 2021, Blossom Company, a public company purchased Buffalo Lid bonds with a maturity value of $1.01 million to earn interest on December 31, 2021, the bonds were trading at 99. Both companies year end is December 31 Click here to view the factor table. Present Value of 1 Click here to view the factor table Present Value of an Annuity of 1 For calculation purposes, we decimal places as displayed in the factor tablet provided) What amount did Blossom Company pay for Buffalo Ltd's bondel (Round answer to decimal places. 5.273 Blossom Company paid 5 Prepare the journal entry for Blossom Company (investor) on January 1, 2021. (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 for the amounts. Round answers to O decimal places, eg. 5,275.) Date Account Titles and Explanation Debit Credit Jan. 1 (To record purchase of investment.) Prepare a bond amortization schedule for Blossom Company for the first four interest periods. (Round answers to decimal places, eg. 5,275) Bond Discount Amortization Table Effective Interest Method-Semi-annual Interest Payments 6% Bonds Issued at market rate of 7% (B) Interest Revenue Discount Amortization Date (A) Interest Received (D) Bond Amortized Jan 1. 2021 July $ 1. 2021 Jan. 1 2022 July 1. 2022 Jan 1. 2023 omsl entries for Blossom Company to record (1) The receipt of interest on July 1, 2021. (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 for the amounts Round answers to decimal places es 5.2750 Date Account Titles and Explanation Debit Credit July 1 To record collection of interest on bonds) (2) The accruat of interest on December 31, 2021. (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 for the amounts. Round answers to decimal places, es. 5.275) Date Credit Debit Account Titles and Explanation Dec. 31 (2) The accrual of interest on December 31, 2021. (Credit accountities 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 for the amounts. Round answers to decimal places, es 5,2751 Date Account Titles and Explanation Debit Credit Dec. 31 (To accrue interest revenue) (3) The receipt of interest on January 1, 2022. Ordet occount titles are automatically indented when the amount is entired. Do not Indient manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Round answers to decimal places.es 5.275) Debit Credit Date Account Titles and Explanation Jan. 1 Collection of interest receivable) Show how the bonds and related income statement accounts would be presented in Blossom Company's fancial statements for the year ended December 31, 2021. Round answers to decimal places as 5.275) BLOSSOM COMPANY Balance Sheet (Partial BLOSSOM COMPANY Income Statement(Partial) Prepare the journal entry for Buffalo Ltd. (investee) on January 1, 2021. (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 for the amounts. Round answers to decimal places, eg. 5,275.) Date Account Titles and Explanation Debit Credit Jan. 1 (To record issuance of bonds payable.)