Question

Blossom Corporation issued $408,000 of 7% bonds on May 1, 2020. The bonds were dated January...

Blossom Corporation issued $408,000 of 7% bonds on May 1, 2020. The bonds were dated January 1, 2020, and mature January 1, 2023, with interest payable July 1 and January 1. The bonds were issued at face value plus accrued interest.

Prepare Blossom’s journal entries for (a) the May 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No.

Date

Account Titles and Explanation

Debit

Credit

(a)

choose a transaction date                                                          May 1, 2020July 1, 2020Dec. 31, 2020

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

(b)

choose a transaction date                                                          May 1, 2020July 1, 2020Dec. 31, 2020

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

(c)

choose a transaction date                                                          May 1, 2020July 1, 2020Dec. 31, 2020

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

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