Cullumber Electric sold $5,605,000.15%, 10 year bonds on January 1, 2020. The bonds were dated January 1, 2020, and paid Interest on January 1. The bonds were sold at 96. (a) Your answer is correct. Prepare the journal entry to record the issuance of the bonds on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Jan. 1. Cash 5330800 2020 224200 Discount on Bonds Payable 5605000 Bonds Payable eTextbook and Media List of Accounts Attempts: 1 of 3 used (b) Your Answer Correct Answer Your answer is correct At December 31, 2020, $7.800 of the Discount on Bonds Payable account has been amortized. Show the balance sheet presentation of the long-term liability at December 31, 2020. (Enter account name only and do not provide descriptive information) Cullumber Electric Balance Sheet (Partial) December 31, 2020 Long-term Liabilities Sto5000 Bonds Payable 216-400 $ Les V Discount on Boods Payable e Textbook and Media Solution List of Accounts Attempts: 3 of 3 used (c) On January 1, 2022, when the carrying value of the bonds was $5,396,400, the company redeemed the bonds at 104. Record the redemption of the bonds assuming that interest for the period has already been paid. (Credit account titles are automatically Indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Jan 1. Bonds Payable 2022 Premium on Bonds Payable Loss on Bond Redemption Cash e Textbook and Media Assistance Used List of Accounts Attempts: 0 of 3 used Submit Answer Savet for alle Last saved 2 seconds ago Saved work will be auto submitted on the due date