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Cullumber Company sold $3,230,000, 8%, 10-year bonds on January 1, 2025. The bonds were dated January 1, 2025, and pay interest on January 1. The company uses straight-line amortization on bond premiums and discounts. Financial statements are prepared annually. (a) Your answer is correct. Prepare the journal entries to record the issuance of the bonds assuming they sold at: (1) 101 and (2) 97. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation 1/1/25 Cash L/1/25 Premium on Bonds Payable Bonds Payable Cash Discount on Bonds Payable Bonds Payable Debit 3262300 IN 3133100 96900 Credit 32300 3230000 T 3230000

Cullumber Company sold $3,230,000,8%,10-year bonds on January 1,2025 . The bonds were dated January 1,2025 , and pay interest on January 1 . The company uses straight-line amortization on bond premiums and discounts. Financial statements are prepared annually. (a) Your answer is correct. Prepare the journal entries to record the issuance of the bonds assuming they sold at: (1) 101 and (2) 97 . (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Prepare amortization table for issuance of the bonds sold at 97 for the first three interest payments

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