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Brief Exercise 10-11 The balance sheet for Cullumber Company reports the following information on July 1, 2017 CULLUMBER COMPANY Balance Sheet (partial) Long-term li Bonds

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Brief Exercise 10-11 The balance sheet for Cullumber Company reports the following information on July 1, 2017 CULLUMBER COMPANY Balance Sheet (partial) Long-term li Bonds payable Less: Discount on bonds payable Cullumber decides to redeem these bonds at 104 after paying annual interest Prepare the journal entry to record the redemption on July 1, 2017, (Credit account titles are automatically indented when amount is entered. Do not indent $4,500,000 101,250 $4,398,750 manually. July 1

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