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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 (a) 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.) Account Titles and Explanation Credit Date Debit 570000 May 1, 2019 Cash 570000 Bonds Payable eTextbook and Media List of Accounts Attempts: 1 of 3 used (b) 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.) Account Titles and Explanation Date Debit Credit Dec. 31,2019 Interest Expense 22800 Interest Payable 22800 eTextbook 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 tA tA Prepare the journal entry to record payment of interest on May 1, 2020. (Credit account titles are automatically indented when amount is entered. Account Titles and Explanation Date Debit Credit May 1, 2020 11400 Interest Expense 22800 Interest Payable 34200 Cash (e) Prepare the adjusting entry to record the accrual of interest on December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Date Debit Credit Dec. 31,2020

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