Cullumber Company sold $3,230,000, 8%, 10-year bonds on January 1, 2025. The bonds were dated January 1, 2025, and pay interest on January 1. The company uses straight-line amortization on bond premiums and discounts. Financial statements are prepared annually. (a) - Prepare the journal entries to record the issuance of the bonds assuming they sold at: (1) 101 and (2) 97. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Your answer is partially correct. ate Account Titles and Explanation 1/25 1/25 Interest Expense Premium on Bonds Payable Interest Payable Interest Expense Discount on Bonds Payable Interest Payable eTextbook and Media Debit 255170 3230 2. 268090 PRE Credit 258400 9690 258400

Cullumber Company sold $3,230,000,8%,10-year bonds on January 1,2025. The bonds were dated January 1, 2025, and pay interest on January 1. The company uses straight-line amortization on bond premiums and discounts. Financial statements are prepared annually. (a) Prepare the journal entries to record the issuance of the bonds assuming they sold at: (1) 101 and (2) 97 . (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tityes and enter O for the amounts.)