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$)$

Prepare the journal entry to record the accrual of interest on December $31,2022.($Credit account titles are automatically indented when amount is entered. Do not indent manually.$)$

Date Account Titles and Explanation

Debit

Credit

Dec. $31,$

$2022$