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On December 31,2025, Cullumber Company had $1,107,000 of short-term debe in the form of notes...

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Accounting

On December 31,2025, Cullumber Company had $1,107,000 of short-term debe in the form of notes payable due February 2,2026. On January 21,2026, the company issued 26,800 shares of its common stock for $32 per share, receiving $857,600 proceeds after brokerage fees and other costs of Issuance. On February 2,2026, the proceeds from the stock sale, supplemented by an additional $249,400 cash, are used to liquidate the $1,107,000 debt. The December 31,2025, balance sheet is issued on February 23,2026.
Show how the $1,107,000 of short-term debt should be presented on the December 31,2025, balance sheet. Eriter account name onty and do not provide descriptive information.)
CULLUMBER COMPANY Partial Balance Sheet
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