Current Attempt in Progress

The Cullumber Company issued $$250,000$ of $10\%$ bonds on January $1,2020.$ The bonds are due January $1,2025,$ with interest payable each July $1$ and January $1.$ The bonds are issued at face value.

Prepare Cullumber's journal entries for $($a$)$ the January issuance, $($b$)$ the July $1$ interest payment, and $($c$)$ the December $31$ adjusting entry. $($If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Credit account titles are outomatically indented when amount is entered. Do not indent manually.$)$

No$.$

Account Titles and Explanation

Debit

Credit

$($a$)$

$($b$)$

$$

$$

$$

$$

$$

$($c$)$

$$

$$

$$