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On January 1,2025 , Cullumber Company sold 12% bonds having a maturity value of $750,000.00 for $869.778.90, which provides the bondholders with a 8% yield.

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On January 1,2025 , Cullumber Company sold 12% bonds having a maturity value of $750,000.00 for $869.778.90, which provides the bondholders with a 8% yield. The bonds are dated January 1, 2025, and mature January 1, 2030, with interest payable December 31 of each year Cullumber Company allocates interest and unamortized discount or premium on the effective-interest basis. Click here to view factor tables (a) Prepare the journal entry at the date of the bond issuance. (Round answer to 2 decimal places, e.g. 38,548.25. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Prepare the journal entry at the date of the bond issuance. (Round answer to 2 decimal places, e.8.38,548.25, If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Prepare a schedule of interest expense and bond amortization for 2025-2027. (Round answer to 2 decimal places, e.g. 38,548,251 Prepare the journal entry to record the interest payment and the amortization for 2025 . (Round answer to 2 decimal places, e.. 38,548.25. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit occount tities are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Prepare the journal entry to record the interest payment and the amortization for 2027 . (Round answer to 2 decimal places. e.g. 38,548.25. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)

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