Cullumber Corporation issued 3,300, 7%, 5-year, $1,000 bonds dated January 1, 2022, at 100. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Cullumber Corporation issued 3,300, 7%, 5-year, $1,000 bonds dated January 1, 2022, at 100. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Cullumber Corporation issued 3,300, 7%, 5-year, $1,000 bonds dated January 1, 2022, at 100. Interest is paid each January 1.
(a)
Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented
when amount is entered. Do not indent manually.)
Date Account Titles and Explanation
Janaury
1, 2022
I
e Textbook and Media
List of Accounts
Debit
Credit
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