Current Attempt in Progress Cullumber Company issued $840,000, 996, 10-year bonds on December 31, 2021, for...

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Current Attempt in Progress Cullumber Company issued $840,000, 996, 10-year bonds on December 31, 2021, for $770,000. Interest is payable annually on December 31. Cullumber Company uses the straight-line method to amortize bond premium or discount. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (b) (c) Date Account Titles and Explanation Dec. 31, 2021 eTextbook and Media List of Accounts Save for Later Debit Credit Prepare the journal entry to record the payment of interest and the discount amortization on December 31, 2022 (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Dec. 31, 2022 eTextbook and Media List of Accounts Save for Later Debit Credit Prepare the journal entry to record the redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Dec. 31, 2031 Account Titles and Explanation Debit Credit eTextbook and Medla List of Accounts Save for Later Current Attempt in Progress Cullumber Company issued $840,000, 996, 10-year bonds on December 31, 2021, for $770,000. Interest is payable annually on December 31. Cullumber Company uses the straight-line method to amortize bond premium or discount. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (b) (c) Date Account Titles and Explanation Dec. 31, 2021 eTextbook and Media List of Accounts Save for Later Debit Credit Prepare the journal entry to record the payment of interest and the discount amortization on December 31, 2022 (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Dec. 31, 2022 eTextbook and Media List of Accounts Save for Later Debit Credit Prepare the journal entry to record the redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Dec. 31, 2031 Account Titles and Explanation Debit Credit eTextbook and Medla List of Accounts Save for Later

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Cullumber Company Bond Journal Entries a Issuance of Bonds Discount Date Account Titles and Explanation Debit Credit Dec 31 2021 Cash 770000 Discount ... View the full answer