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Crane Company issued $ 6 1 0 , 0 0 0 , 1 0 % , 1 0 - year bonds on December 3 1

  • Crane Company issued $610,000,10%,10-year bonds on December 31,2021 , for $540,000. Interest is payable annually on December 31. Crane Company uses the straight-line method to amortize bond premium or discount.a).b)Prepare the journal entry to record the payment of interest and the discount amortization on December 31, 2022. (Credit cccount titles are outomatically indented when amount is entered: Do not indent manully)DateAccount Titles and ExplanationDebitCreditDec312022
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Crane Company issued $610,000, 10%, 10-year bonds on December 31, 2021, for $540,000. Interest is payable annually on December 31. Crane Company uses the straight-line method to amortize bond premium or discount. a) b) Prepare the journal entry to record the payment of interest and the discount amortization on December 31, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Dec 31, 2022 Debit Credit

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