Cullumber Company issues S2.3 million, 10-year, 6% bonds at 98, with interest payable on December...
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Cullumber Company issues S2.3 million, 10-year, 6% bonds at 98, with interest payable on December 31. The straight-line method is used to amortize bond discount Your answer is correct Prepare the journal entry to record the sale of these bands on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Jan 1 Cash 2.254,000 Discount on Bonde Puyable 46,000 Bonds Payable 2.300,000 eTextbook and Media List of Accounts - Your answer is partially correct. Prepare the journal entry to record interest expense and bond discount amortization on December 31, 2022, assuming no previous accrual of interest (Credit account titles are automatically indented when amount is entered. Do not indent manually) Debit Credit Date Account Titles and Explanation Dec Interest Expense 31 113400 Discount on Bonds Payable 3400 Cash 105000
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