Please answer part (a) and (b) completely and correctly fill out every single box with the right information **Blossom Company Bond Issuance Details****Bond Details:**- **Issuer:** Blossom Company- **Amount:** $1,000,000- **Term:** 10 years- **Interest Rate:** 10%- **Issue Price:** 95% of face value- **Interest Payment Date:** January 1 each year**Requirement (a):****Task:**Prepare the journal entry for the sale of the bonds on January 1, 2022.**Instructions:**- Note that credit account titles are automatically indented when amounts are entered.- Do not manually indent entries.**Journal Entry Format:**| Date | Account Titles and Explanation | Debit | Credit ||---------|---------------------------------|-------|--------|| Jan. 1 | | | || | | | || | | | |This entry will reflect the accounting impact of issuing the bonds at a discount, recording both the cash received and the obligation to pay back more than the amount received, adjusted for the discount. ### Journal Entry Preparation for Bond Sale**Scenario**: Assume that the bonds mentioned were sold for $108. You are required to prepare the journal entry to record this bond sale, dated January 1, 2022.**Note**: Credit account titles will be automatically indented when the amount is entered. Do not indent manually.#### Journal Entry Template| Date | Account Titles and Explanation | Debit | Credit ||--------|--------------------------------|-------|--------|| Jan. 1 | | | || | | | || | | | |Fill in the necessary account titles and amounts under "Debit" and "Credit" to accurately record the transaction following standard accounting principles.

Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Blossom Company issues $1,000,000, 10-year, 10% bonds at 95, with interest payable each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1

Blossom Company issues $1,000,000, 10-year, 10% bonds at 95, with interest payable each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

In the context of databases, what does ACID stand for? A. Automatic, Consistent, Integrated, Durable B. Atomicity, Consistency, Isolation, Durability C. Array, Class, Interface, Data D. Add, Change, Insert, Delete
All blanks need to be filled please and thank you, it's incomplete as of now.
Can you use excel to do the data please.
A number of factors led to the development of double entry bookkeeping, detail and discuss with justification what you consider to be the six most important of these.
PLEASE EXPLAIN EACH POINT STEP BY STEP
please solve this question with all steps and workings of notes to account as well following IND AS
Create a SQL table using your name with the following features: the columns of your table must include, at least the data types (in this order) and one more of your choice NOTE: You need to specify a 2 column (i.e 2 attribute 1. varchar (n), // where n covers the string length you want to enter 2. Int, 3. decimal, (precision = 8, scale = 3 4. date. 5. ??? your choice here ??? Table constraints: 1. It has a two column primary key 2. a check constraint on 2 columns, on the decimal and the date field 3. Use '2024-02-18' date as the default on the date field 5. write down your relational schema 5. Create the table, insert at least 4 rows, and do a Select * to show them example don't just copy these, change the constraint names
Fill out the missing columns and show the calculation and formulas
Will you please provide the formulas (explanation) to understand the results or numbers that were added in the solution?
Please provide the introductory part and answer for question D.
Use the information in the following table to answer the questions below
Can i have the steps in formula form please