Cullumber Company issued $$1,550,000$ of bonds on January $1,2022.$

$($a$)$

Your answer is correct.

Prepare the journal entry to record the issuance of the bonds if they are issued at $(1)100,(2)96,$ and $(3)101.$

$($Credit account titles are automatically indented when amount is entered. Do not indent

manually.$)$

No$.$ Account Titles and Explanation

Debit

Credit

$(1)$ Cash

$1550000$

$(2)$

Bonds Payable

$(2)$

Cash

Discount on Bonds Payable

$1488000$

Bonds Payable

$(3)$

Cash

$1565500$

Bonds Payable

Premium on Bonds Payable

eTextbook and Media

List of Accounts

Attempts: $1$ of $3$ used

$($b$)$

Prepare the journal entry to record the redemption of the bonds at maturity, assuming the bonds were issued

at $100.($Credit account titles are automatically indented when amount is entered. Do not indent

manually.$)$