Cullumber Company issued $580,000 of 5-year, 8% bonds at 96 on January 1, 2020. The bonds pay interest annually. Prepare the journal entry to record the issuance of the bonds. Compute the total cost of borrowing for these bonds. Total cost of borrowing Prepare the journal entry to record the issuance of the bonds, assuming the bonds were issued at 103. Compute the total cost of borrowing for these bonds, assuming the bonds were issued at 103. Total cost of borrowing

Cullumber Company issued $580,000 of 5-year, 8% bonds at 96 on January 1, 2020. The bonds pay interest annually. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented whe Account Titles and Explanation Debit Credit Cash Discount on Bonds Payable Bonds Payable SHOW LIST OF ACCOUNTS Compute the total cost of borrowing for these bonds. Total cost of borrowing $ Prepare the journal entry to record the issuance of the bonds, assuming the bonds were issued at 103. (Credit account titles are a Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS Compute the total cost of borrowing for these bonds, assuming the bonds were issued at 103, Total cost of borrowing $ SHOW LIST OF ACCOUNTS By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor