Exercise 16-03 (Video) Cullumber Company purchased 80 Rinehart Company 9%, 10 year, $1,160 bonds on January 1, 2020, for $92,800. The bond Cullumber Company sold 50 of the bonds for $51,040. Prepare the journal entries to record the transactions described above. (Round answers to 0 decimal places, e.g. 15,250. not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts. Account Titles and Explanation Debit Credit Date v (To record receipt of interest) (To record sale of bonds) SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO SIMILAR EXERCISE ends on January 1, 2020, for $92,800. The bonds pay interest annually on January 1. On January 1, 2021, after receipt of interest, nd answers to O decimal places, e.g. 15,250. Credit account titles are automatically indented when amount is entered. Do account titles and enter o for the amounts. Record journal entries in the order presented in the problem.)