Crane Company issued $$527,000$ of $7\%,10-$year bonds on January $1,2022,$ at face value. Interest is payable annually on January $1,2023.$

$($a$)$

$($b$).$

$($c$)$

Prepare the journal entry to record the payment of interest on January $1,2023.($Credit account titles are automatically indented when amount is entered. Do not indent manually.$)$

Date

Account Titles and Explanation

Debit

Credit

Jan. $1,2023$