On January $1,2024,$ Cullumber Ltd$.$ issued bonds with a maturity value of $$7\mathrm{.}80$ million when the market rate of interest was $4\%.$ The bonds have a coupon $($contractual$)$ interest rate of $5\%$ and mature on January $1,2034.$ Interest on the bonds is payable semi$-$annually on July $1$ and January $1$ of each year. The company's year end is December $31.$

Click here to view the factor table. Present Value of $1$

Click here to view the factor table. Present Value of an Annuity of $1$Prepare a bond amortization schedule from the date of issue up to and including January $1,2027.($Round answers to $0$ decimal

places, e$.$g$.5,275.)$

CULLUMBER LTD$.$

Bond Premium Amortization Table

Effective Interest Method$-$Semi$-$Annual Interest Payments

$5\%$ Bonds Issued at market rate of $4\%$

Date

Interest Payment

Interest Expense

Premium Amortization

Bond Carrying Ar

Jan. $1,2024$

July $1,$

$2024$

Jan. $1,2025$

July $1,$

$2025$

Jan. $1,2026$

July $1,$

$2026$

Jan. $1,2027$