Cullumber Company sold $$7,100,000,7\%,15-$year bonds on January $1,2025.$ The bonds were dated January $1,2025,$ and pay interest

on December $31.$ The bonds were sold at $97.$

$($c$)$

Your answer is partially correct.

At January $1,2027,$ when the carrying value of the bonds was $$6,915,400,$ the company redeemed the bonds at $103.$ Record the

redemption of the bonds assuming that interest for the year had already been paid. $($List all debit entries before credit entries. Credit

account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the

account titles and enter $0$ for the amounts.$)$

Date

Account Titles and Explanation

Bonds Payable

Loss on Bond Redemption

Discount on Bonds Payable

Cash

eTextbook and Media

List of Accounts

Debit

Credit

Jan. $1,$

$2027$

Bonds Payable

Loss on Bond Redemption

Discount on Bonds Payable

Cash

Date Account Titles and Explanation

Jan. $1,$

$2027$ Bonds Payable

Discount $on$ Bonds Payable

Cash $on$ Bond Redemption

eTextbook and Media

List $of$ Accounts

Attempts: $1$ of $2$ used