Blossom Company issued $440,000 of 4%, 20-year bonds on January 1, 2022, at face value. Interest is payable annually on January 1.

A journal entry is the act of recording any transaction, whether one that is economic or not.
An journal entry that displays the debit and credit balances of a corporation lists transactions. Multiple recordings, each of which is either a debit or a credit, may be included in the journal entry. The amount of the debits and credits must be equal in order for the journal entry to be declared balanced.
Depreciation or bond amortization are examples of recurring items that can be recorded in journal entries. Accounts payable normally has its own subledger that indirectly impacts the general ledger, and journal entries are frequently filed using a different module in accounting software.

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Question:

Blossom Company issued $440,000 of 4%, 20-year bonds on January 1, 2022, at face value. Interest is payable annually on January 1. Blossom Company uses straight-line amortization for bond premium or discount.

Prepare the journal entries to record the following event.

The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded.