Current Attempt in Progress Cullumber Company sold $7,100,000,7%,15-year bonds on January 1, 2025. The bonds were dated January 1, 2025, and pay interes on December 31. The bonds were sold at 97 . Your answer is correct. Prepare the journal entry to record the issuance of the bonds on January 1, 2025. (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.) At December 31,2025,$14,200 of the bond discount had been amortized. Show the long-term liability balance sheet presentation of the bond liability at December 31, 2025. At January 1,2027 , when the carrying value of the bonds was $6,915,400, the company redeemed the bonds at 103 . Record the redemption of the bonds assuming that interest for the year had already been paid. (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.)