Cullumber Company issued $415,000,6%, 15-year bonds on January 1, 2017, for $458,075. This price resulted in an effective- interest rate of 5% on the bonds. Interest is payable annually on January 1. Cullumber uses the effective interest method to amortize bond premium or discount. (a2) Prepare the journal entry to record the issuance of the bonds. (Round answers to decimal places, e-8.5,275. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan 1. 2017