view rolicies

Current Attempt in Progress

Prepare the necessary journal entries to record the following transactions relating to the issuance of bonds by Blossom Co$.$: $($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 $O$ for the amounts. List all debit entries before credit entries.$)$

March $1$

Issued $$4,960,000$ face value Blossom Co$.$ second mortgage, $8\%$ bonds for $$5,407,392,$ including accrued interest. Interest is payable semiannually on December $1$ and June $1$ with the bonds maturing $10$ years from this past December $1.$ The bonds are callable at $102.$

June $1$

Paid semiannual interest on Blossom Co$.$ bonds. $($Use straight$-$line amortization of any premium or discount.$)$

December $1$

Paid semiannual interest on Blossom Co$.$ bonds and purcha $$2,480,000$ face value bonds at the call price specified in the provisions of the bond indenture.