Question: Please help with E) and F) On May 1, 2020, Blossom Corp. issued $650,000,9%, 5-year bonds at face value. The bonds were dated May 1,



On May 1, 2020, Blossom Corp. issued $650,000,9%, 5-year bonds at face value. The bonds were dated May 1, 2020, 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.) Date Account Titles and Explanation Debit Credit May 1 2020 Cash 650000 Bonds Payable 650000 (c) Your answer is correct. Show the balance sheet presentation on December 31, 2020. (Enter account name only and do not provide descriptive ir Round answers to O decimal places, e.g. 5,675.) Blossom Corp. Balance Sheet (Partial) December 31, 2020 Current Liabilities Interest Payable 39000 Long-term Liabilities Bonds Payable $ HA 650000 (d) Your answer is correct. Prepare the journal entry to record payment of interest on May 1, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to decimal places, eg. 5,675.) Debit Credit Date Account Titles and Explanation 19500 May 1 2021 Interest Expense 39000 Interest Payable 58500 Cash (e) Prepare the adjusting entry to record the accrual of interest on December 31, 2021. (Credit account titles are automatically indente when amount is entered. Do not indent manually. Round answers to decimal places, eg. 5,675.) Date Account Titles and Explanation Debit Credit Dec. 31 2021 eTextbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit Answer (6) The parts of this question must be completed in order. This part will be available when you complete the part above
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