Problem 10-09A Cullumber Company sold $3,230,000, 8%, 10-year bonds on January 1, 2022. The bonds...
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Problem 10-09A Cullumber Company sold $3,230,000, 8%, 10-year bonds on January 1, 2022. The bonds were dated January 1, 2022, and pay interest on January 1. The company uses straight-line amortization on bond premiums and discounts. Financial statements are prepared annually. Prepare the journal entries to record the issuance of the bonds assuming they sold at: (1) 101 and (2) 97. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit 1. 1/1/22 2. 1/1/22 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare amortization table for issuance of the bonds sold at 101 for the first three interest payments. Annual Interest Interest to Periods Be Paid Issue dates _ Interest Expense to Be Recorded Premium Amortization Unamortized Premium Bond Carrying Value Prepare amortization table for issuance of the bonds sold at 97 for the first three interest payments. Annual Interest Interest to Periods Be Paid Issue dates Interest Expense to Be Recorded Discount Amortization Unamortized Discount Bond Carrying Value
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