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Cullumber Company has the following information available on December 31, 2020. The company adjusts its accounts annually. cullumber signed a 47,700, 4% bank loan on

Cullumber Company has the following information available on December 31, 2020. The company adjusts its accounts annually.

cullumber signed a 47,700, 4% bank loan on November 1, 2019, due in 2 years. interest is payable on the first day of each following month.

Dec. 31 Interest Expense Interest Payable I (To record interest used) Jan. 1 Jan

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