Exercise 17-3 On January 1, 2017, Cullumber Company purchased 8% bonds having a maturity value of $360,000, for $390,329.57. The bonds provide the bondholders with a 6% yield. They are dated January 1, 2017, and mature January 1, 2022, with Interest receivable January 1 of each year. Cullumber Company uses the effective interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category. Prepare the journal entry at the date of the bond purchase. (Enter answers to 2 decimal places, e.g. 2,525.25. 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 tities and enter o for the amounts.) Debit Credit Date Account Titles and Explanation Jan 1, 2017 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare a bond amortization schedule. (Round answers to 2 decimal places, c.g. 2,525.25.) Schedule of Interest Revenue and Bond Premium Amortization Effective-Interest Method Cash Interest Premium Carrying Amount Date Recelved Revenue Amortized of Bonds 1/1/17 1/1/18 1/1/19 1/1/20 1/1/21 1/1/22 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry to record the interest revenue and the amortization at December 31, 2017. (Round answers to 2 decimal places, e.g. 2,525.25. 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 tites and enter o for the amounts.) Debit Credit Date Account Titles and Explanation Dec. 31, 2017 Prepare the journal entry to record the interest revenue and the amortization at December 31, 2017. (Round answers to 2 decimal places, e.g. 2,525.25. 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 for the amounts.) Debit Credit Date Account Titles and Explanation Dec 31, 2017 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry to record the interest revenue and the amortization at December 31, 2018. (Round answers to 2 decimal places, e.g. 2,525.25. 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 tities and enter o for the amounts.) Date Account Titles and Explanation Credit Dec 31, 2018 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT