Cullumber Company issued $520,000, 10-year, 7% bonds at 103.

(a)

Correct answer iconYour answer is correct.

Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 1	enter an account title to record the sale of these bonds on January 1, 2017enter an account title to record the sale of these bonds on January 1, 2017	enter a debit amountenter a debit amount	enter a credit amountenter a credit amount
	enter an account title to record the sale of these bonds on January 1, 2017enter an account title to record the sale of these bonds on January 1, 2017	enter a debit amountenter a debit amount	enter a credit amountenter a credit amount
	enter an account title to record the sale of these bonds on January 1, 2017enter an account title to record the sale of these bonds on January 1, 2017	enter a debit amountenter a debit amount	enter a credit amountenter a credit amount

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List of Accounts

Attempts: 3 of 6 used

(b)

New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is partially correct.

Suppose the remaining Premium on Bonds Payable was $9,360 on December 31, 2025. Show the balance sheet presentation on this date.

CULLUMBER COMPANY Balance Sheet (Partial) choose the accounting periodchoose the accounting period For the Month Ended December 31, 2025For the Year Ended December 31, 2025December 31, 2025
select an opening subsection nameselect an opening subsection name Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
enter a balance sheet itementer a balance sheet item		$enter a dollar amount enter a dollar amount
select between addition and deductionselect between addition and deduction AddLess: enter a balance sheet itementer a balance sheet item		enter a dollar amountenter a dollar amount		$enter a total of the two previous amounts enter a total of the two previous amounts