The following section is taken from Cullumbers balance sheet at December 31, 2021 Current liabilities Interest payable $48,000 Long term liabilities Bonds payable (10 , due January 1, 2025) 480,000 Interest is payable annually on January 1 The bonds are callable on an annual interest date (b) Assum...

Part a Date Account 1Jan22 Interest Payable Cash Part b Dat ...

The following section is taken from Cullumbers balance sheet at December 31, 2021. Current liabilities Interest payable

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The following section is taken from Cullumber’s balance sheet at December 31, 2021.

Current liabilities
Interest payable		$48,000
Long-term liabilities
Bonds payable (10%, due January 1, 2025)		480,000

Interest is payable annually on January 1. The bonds are callable on an annual interest date.

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Accounting Principles

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Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell

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Posted Date: Jul 16, 2022 02:03 AM

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The following section is taken from Cullumbers balance sheet at December 31, 2021. Current liabilities Interest payable

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