Cullumber Company issued $530,000, 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. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Jan. 1, 2022 Cash Bonds Payable Premium on Bonds Payable eTextbook and Media List of Accounts Save for Later Last saved 5 days ago. Debit 540600 Credit 530000 Attempts: 0 of 5 used Submit Answer