issued $630,000, 9%, 5-year bonds at face value.
On May 1, 2020, Cullumber Corp. issued $630,000, 9%, 5-year
1.Prepare the
Date
|
Account Titles and Explanation
|
Debit
|
Credit
|
May 1, 2020
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2.repare the
Date
|
Account Titles and Explanation
|
Debit
|
Credit
|
Dec. 31, 2020
|
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3.Show the
Cullumber Corp.
Balance Sheet (Partial) For the Month Ended December 31, 2020December 31, 2020For the Year Ended December 31, 2020
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||||||
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||||||
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$
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|||||
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$
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4.Prepare the journal entry to record payment of interest on May 1, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,675.)
Date
|
Account Titles and Explanation
|
Debit
|
Credit
|
May 1, 2021
|
|
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