On September 1, 2021,BlossomCorporation issued $520,000of10-year,3% bonds at95. Interest is payable semi-annually on September 1 and March 1.Blossom's fiscal year end is February 28.

Is the market rate of interest higher or lower than3%?

Record the issue of the bonds on September 1, 2021.?

Record the accrual of interest on February 28, 2022, assuming the semi-annual amortization amount for this interest period is $882.? (3 entries)

Record the payment of interest on March 1, 2022?