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please show all of work Presented below are two independent situations. (a) Blossom Co sold $2.140,000 of 12%, 10-year bonds at 102 on January 1,
please show all of work
Presented below are two independent situations. (a) Blossom Co sold $2.140,000 of 12%, 10-year bonds at 102 on January 1, 2020. The bonds were dated January 1, 2020, and pay interest on July 1 and January 1. If Blossom uses the straight-line method to amortize bond premium or discount, determine the amount of interest expense to be reported on July 1, 2020, and December 31, 2020. (Round answer to O decimal places, es 38,548.) Interest expense to be recorded $ 126260 (b) Blue Inc. issued 5580,000 of 996, 10 year bonds on June 30, 2020, for $480,209. This price provided a yield of 12% on the bonds. Interest is payable semiannually on December 31 and June 30. Blue uses the effective-interest method, determine the amount of interest expense to recordif financial statements are issued on October 31, 2020. (Round intermediate calculations to 6 decimal places, 68. 1.251247 and final answer to decimal places, es. 38,548.) S Interest expense to be recorded
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