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Cullumber Company acquires 8 3 Dodd's 1 1 % , 4 year, $ 1 0 0 0 bonds on January 1 , 2 0 2

Cullumber Company acquires

83

Dodd's

11 %, 4

year, $

1000

bonds on January

1, 2021

for $

83000 .

Assume Dodd's pays interest annually on January

1 .

Mazzeo's journal entry at December

31, 2021

would include a credit to

Interest Revenue for $

9130 .

Interest Receivable for $

9130 .

Interest Expense for $

9130 .

Interest Receivable for $

4565 .

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