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Prepare the necessary journal entries for the following transactions for Cullumber Co. (Credit account titles are automatically indented when the amount is entered. Do not

Prepare the necessary journal entries for the following transactions for Cullumber Co. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)

May	25		Cullumber Co. received a $17,000, 2-month, 9% note from Bolt Company in settlement of an account receivable.
July	25		Cullumber Co. received payment on the Bolt note.

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