Question: On May 1 , 2 0 2 2 , Cullumber Corp. issued $ 6 3 0 , 0 0 0 , 9 % , 5

On May 1,2022, Cullumber Corp. issued $630,000,9%,5-year bonds at face value. The bonds were dated May 1,2022, and pay interest annually on May 1. Financial statements are prepared annually on December 31.
(a)
(b).
Prepare the adjusting entry to record the accrual of interest on December 31,2022.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date Account Titles and Explanation
Debit
Credit
Dec. 31,
2022
On May 1,2022, Cullumber Corp. issued $630,000,9%,5-year bonds at face value.

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