CALCULATORS MESSAGE MY INSTRUCTOR FAL SCREEN PRINTER VERON 18ACK NEXT Problem 15-06A a-c (Part Level Submission) Cullumber Company sold $3,700,000, 6 % , 10-year bonds on January 1, 2020. The bonds were dated January 1, 2020 and pay interest annualy on January 1. Cullumber Company uses the straight-line method to amortine bond premium or discount. (a) Your answer is correct Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2020, assuming that the bonds sold at 105. (Credit account itles are automatically indented when amount le entered. De not indent manually, Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Jan. 1, 2020 Cash 3885000 Bonds Payable 3700000 185000 Premium on Bonds Payable 203500 Dec. 31, 2020 Interest Expense 18500 Premium on Bonds Payable 222000 Interest Payable (b) Your answer is correct Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2020, assuming that the bonds are sold at 95. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the erder presented in the problem.) Date Account Titles and Explanatione Debit Credit Jan. 1, 2020 Cash 3515000 Discount on Bonds Payable 185000 Bonds Payable 3700000 Dec. 31, 2020:Interest Expense 240500 Discount on Bonds Payable 18500 Interest Payable 222000 Show balance sheet presentation for the bonds at December 31, 2020. (Enter account name only and do not provide descriptive information.) Cullumber Company Balance Sheet (Partial) December 31, 2020 Premium Current Liabilities Interest Payable 222000 Long-term Liabilities Bonds Payable 3700000 Add Premium on Bonds Payable Cullumber Company Balance Sheet (Partial) December 31, 2020 Discount Current Liabilities Interest Payable 222000 Long-term Liabilities Bonds Payable 3700000 Less # 18500 Discount on Bonds Payable