Brief Exercise 15-12 a-b Cullumber Company issues $6,000,000, 10-year, 10% bonds at 98, with interest payable annually on January 1. The straight-line method is used to amortize bond discount. Prepare the journal entry to record the sale of these bonds on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Cash 5880000 Discount on Bonds Payable Bonds Payable SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the adjusting journal entry to record interest expense and bond discount amortization on December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Interest Expense Discount on Bonds Payable Cash Click if you would like to Show Work for this question: Open Show Work