On July 1, 2021, Blossom Corp. issued $3,870,000 of 10-year, 5% bonds at $4,186,400. This price resulted in a 4% market interest rate on the bonds. The bonds pay semi-annual interest on July 1 and January 1, and Blossom has a December 31 year end. Record the issue of the bonds 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 O for the amounts.) Date Account Titles and Explanation July 1 (To record issuance of bonds.) Debit Credit Assuming instead that Blossom has an August 31 year end, prepare the adjusting entry related to these bonds on August 31, 2021, as well as the subsequent interest payment on January 1, 2022. (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 Aug. 31, 2021 Account Titles and Explanation Jan. 1, 2022 (To accrue interest expense.) Debit Credit