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Brief Exercise 15-03 a-c Cullumber Corporation issued 3,300, 7%, 5-year, $1,000 bonds dated January 1, 2020, at 100. InterestExercise 15-02 a-c On January 1, 2020, Wildhorse Company issued $470,000, 13%, 10-year bonds at face value. Interest is payabBrief Exercise 15-04 a-b Oriole Company issues $3,000,000, 10-year, 10% bonds at 99, with interest payable each January 1. PrExercise 15-05 a-c Cullumber Company issued $1,550,000 of bonds on January 1, 2020. Prepare the journal entry to record the i

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Answer #1

1) Journal entry

Date account and explanation Debit Credit
Jan 1 Cash 3300000
Bonds payable 3300000
Dec 31 Interest expense (3300000*7%) 231000
Interest payable 231000

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