On January 1, 2025, Blossom Company purchased $340,000, 8% bonds of Aguirre Co. for $313,745. The bonds were purchased to yield 10% interest. Interest is payable semiannually on July 1 and January 1. The bonds mature on January 1, 2030. Blossom Company uses the effective-interest method to amortize discount or premium. On January 1, 2027, Blossom Company sold the bonds for $315,215 after receiving interest to meet its liquidity needs. (a) Your answer is correct. Prepare the journal entry to record the purchase of bonds on January 1. Assume that the bonds are classified as available-for-sale. (List debit entry before credit entry. Credit account titles are automatically indented when 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 Jan. 1, Debt Investments 2025 Cash eTextbook and Media List of Accounts Debit 313745 (b) Prepare the amortization schedule for the bonds. (Round answers to O decimal places, e.g. 1,250.) Schedule of Interest Revenue and Bond Discount Amortization-Effective-Interest Method 8% Bonds Purchased to Yield 10% Date Cash Received 1/1/25 7/1/25 $ 1/1/26 7/1/26 1/1/27 7/1/27 1/1/28 7/1/28 1/1/29 7/1/29 1/1/30 $ Interest Revenue Total $ $ $ Credit 313745 Attempts: 2 of 3 used Bond Discount Carry Amou Amortization Bon