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Cullumber Company issued $420,000, 5%, 20-year bonds on January 1, 2022, at 102. Interest is payable annually on January 1. Cullumber uses straight-line amortization

Cullumber Company issued $420,000, 5%, 20-year bonds on January 1, 2022, at 102. Interest is payable annually on January 1. Cullumber uses straight-line amortization for bond premium or discount.

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