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Cullum ber Company issued $530,000 of 7%, 20-year bonds on January 1, 2017, at face value. Interest is payable annually on January 1. Prepare the

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Cullum ber Company issued $530,000 of 7%, 20-year bonds on January 1, 2017, at face value. Interest is payable annually on January 1. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Date Account Titles and Explanation Debit Credit Jan. 1, 2017

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