On January $1,2025,$ Cullumber Company sold $\backslash (11\backslash \%\backslash )$ bonds having a maturity value of $\backslash (\backslash$$ $700,000\mathrm{.}00\backslash )$ for $\backslash (\backslash$$ $726,535\mathrm{.}83\backslash ),$ which provides the bondholders with a $10\backslash \%$ yield. The bonds are dated January $1,2025,$ and mature January $1,2030,$ with interest payable December $31$ of each year. Cullumber Company allocates interest and unamortized discount or premium on the effective$-$interest basis.

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$($a$)$ Prepare the journal entry at the date of the bond issuance. $($Round answer to $2$ decimal places, e$.$g$.38,548\mathrm{.}25.$ If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select $"$No entry" for the account titles and enter $0$ in the respective debit and credit fields.$)$

Date

Account Titles and Explanation

Debit

Credit

January $1,$

$2025$

Bonds Payable Prepare a schedule of interest expense and bond amortization for $2025-2027.($Round answer to $2$ decimal places, e$.$g$.38,548\mathrm{.}25.)$ Prepare a schedule of interest expense and bond amortization for $2025-2027.($Round answer to $2$ decimal places, e$.$g$.38,548\mathrm{.}25.)$