On May 1, 2019, Blossom Company issued $570,000,6%, 5-year bonds at face value. The bonds were dated May 1, 2019, and pay interest annually on May 1. Financial statements are prepared annually on December 31. Your answer is correct. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit May 1, 2019 Cash 570000 Bonds Payable 570000 e Textbook and Media List of Accounts Attempts: 1 of 3 used Your answer is correct. Prepare the adjusting entry to record the accrual of interest on December 31, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Credit Dec 31, 2019 Interest Expense 22800 Interest Payable 22800 e Textbook and Media List of Accounts Attempts: 2 of 3 used Your answer is correct. Show the balance sheet presentation on December 31, 2019. (Enter account name only and do not provide descriptive information.) Blossom Company Balance Sheet December 31, 2019 Current Liabilities Interest Payable 22800 Long-term Liabilities Bonds Payable 570000 Prepare the journal entry to record payment of interest on May 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit May 1, 2020 Accounts Payable Interest Payable 22 Cash