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On October 1 , 2 0 2 4 Cullumber Corporation issued 5 % , 1 0 - year bonds with a face value of $

On October 1,2024 Cullumber Corporation issued 5%,10-year bonds with a face value of $6050000 at 106. Interest is paid on October 1 and April 1, with any premium or discount amortized on a straight-line basis. The entry to record the issuance of the bonds will include a credit of : $363000 to discount on bonds payable; $151250 to Interest Payable; $5687000 to Bonds Payable; $363000 to Premium on Bonds Payable.

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