Question: On January 1 , 2 0 2 5 , Cullumber Company acquires ( $ 1 2 0 , 0 0 0 )

On January 1,2025, Cullumber Company acquires \(\$ 120,000\) of Spiderman Products, Inc., \(9\%\) bonds at a price of \(\$ 114,135\). Interest is received on January 1 of each year, and the bonds mature on January 1,2028. The investment will provide Cullumber Company a \(11\%\) yield. The bonds are classified as held-to-maturity. (a) Prepare a 3-year schedule of interest revenue and bond discount amortization, applying the straight-line method. (Round answers to 0 decimal places, e.g.1,225.)Schedule of Interest Revenue and Bond Discount Amortization Straight-line Method 9\% Bond Purchased to Yield 11\%Cash ReceivedInterest RevenueBond Discount AmortizationCarrying Amount of Bonds
On January 1 , 2 0 2 5 , Cullumber Company

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