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Cullumber Corporation had the following transactions relating to debt investments: Jan. 1,2025 Purchased 70,...

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Accounting

Cullumber Corporation had the following transactions relating to debt investments:
Jan. 1,2025 Purchased 70, $1,000,14% Oriole Company bonds for $70,000. Interest is payable annually on January 1.
Dec. 31,2025 Accrued interest on Oriole Company bonds.
Jan. 1,2026 Received interest from Oriole Company bonds.
Jan. 1,2026 Sold 42 Oriole Company bonds for $39,900.
Journalize the above transactions, including the adjusting entry for the accrual of interest on December 31,2025.(List all debit entries before credit entries. Credit account titles are automatically indented when the 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. Record journal entries in the order presented in the problem.)
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