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On January 1, 2021. Bonita Ltd. issued bonds with a maturity value of $4.50 million for $4,307 850when the market rate of interest was 0%. The bonds have a contractual interest rate of 5% 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 Bonita Lid bonds with a maturity value of $0.90 million to earn interest On December 31, 2021. the bonds were trading at 97. Both companies' year end is December 31 Click here to view the factor table. Present Value of 1 Click here to view the factor tablet. Present Value of an Annuity of For calculation purposes, es decimal places as displayed in the factor table provided) What amount did Blossom Company pay for Bonita Ltd's bonds? (Round answer to decimal places, es 5.275.) Blossom Company paid $ eTextbook and Media 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 decimal places es 5275) 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 5.2753 (A) Interest Received 5% Bonds issued at market rate of 6% (B) IC) Interest Revenue Discount Amortization Date Bond Amorti Jan 1. 2021 July 1. 2021 Jan 1. 2022 July 1. 2022 Jan 1. 2023 Prepare the journal entries for Blossom Company to record: (1) The receipt of interest on July 1.2021. Cred account titles are automatically indented when the amount is entered. Do not indent monoay no entry is required, select "No Entry for the account titles and enter for the amounts. Round answers to decimal places 5.275) Date Account Titles and Explanation Debit Credit July To record collection of interest on bonds) Done Expert Q&A (2) The accrual 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 mguined select "No Entry for the accounts and enter for the amounts. Round answers to decimal ploces es 5275) Date Account Titles and Explanation Credit Dec. 31 Debit (To accrue interest revenue) (3) The receipt of interest on January 1, 2022.Credit accountilles are automatically indented when the amount is entered. Do not indent manually no entry is required select "No Entry for the account titles and enter for the amounts Round answers to decimal poses 5.275) Date Account Titles and Explanation Debit Credit Collection of interest receivable) Show how the bonds and related income statement accounts would be presented in Blossom Company's financial statements for the year ended December 31, 2021. Round answers to decimal places, es 5.275) BLOSSOM COMPANY Balance Sheet (Partial BLOSSOM COMPANY Income Statement (Partial Prepare the journal entry for Bonita Ltd. (investee on January 1, 2021 Credit accountities are automatically indented when the amount is enteret. Do not indent manually no entry is required, select "No Entry for the account titles and enter for the amounts Prepare the journal entry for Bonita Ltd. investeel on January 1.2021 Credit account titles are automatically indevided when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account title and enter for the amounts Round answers to decimal places. 5.275) Date Account Titles and Explanation Debit Credit Jan. 1 To record stance of bonds payable) e Textbook and Media Prepare the journal entries for Bonita Ltd. to record (1) The payment of interest on July 1, 2021. (Credit account elles are automatically indented when the amount is entered. Do not inder manually no entry is required, select "No Entry for the account titles and enter for the amounts. Round answers to decimal places 5.275) Date Account Titles and Explanation Debit Credit Jul 1 to record payment of Interest on bonds) (2) The accrual of interest expense on December 31, 2021 Credit accountitles are automatically indented when the amounts entered. Do not indent trencally no entry is required, select "No Entry for the account titles and enter for the amounts. Round answers to decimal places. 5.2753 Date Account Titles and Explanation Debit Credit Dec. 31 (To accrue interest experie) (3) The payment of interest on January 1, 2022. Cdit account titles are automatically indented when the amount is entered Dorot indent manually . If no entry is required select "Me Entry for the account titles and enter for the amounts. Round answers to decimal 5275) (a) The payment of interest 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 for the amounts. Round answers to decinal places 1.275) Date Account Titles and Explanation Debit Credit Jan. 1 (To record payment of interest payable on bonds Show how the bonds and related income statement accounts would be presented in Bonitales financial statements for the year ended December 31, 2021. Round answers to decimal places es 5.275) BONITA LTD. Balance Sheet (Partial BONITA LTD Income Statement (Partial