Question: Crane Services, Inc. issued $ 5 4 0 , 0 0 0 , 8 % , 1 0 - year bonds on January 1 ,

Crane Services, Inc. issued $

540, 000, 8 %, 10 -

year bonds on January

1, 2025,

104 .

Interest is payable annually on December

31 .

Crane uses the straight

-

line method of amortization and has a calendar year

-

end.

Prepare all journal entries made in

2025

related to the bond issue.

(

Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select

"

No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.

)

Interest is payable annually on December 31. Crane uses the straight-line method

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