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On January $1,2024,$ Wildhorse Corp. borrows $$13,800$ by signing a $3-$year, $6\%$ note payable. The note is repayable in three annual

fixed principal payments on December $31$ of each year.

$($a$)$

Calculate the annual principal payment.

Annual principal payment $

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The parts of this question must be completed in order. This part will be available when you complete the part above.Current Attempt in Progress

On January $1,2024,$ Crane Ltd$.$ issued $$570,000$ of $5\%,5-$year bonds. The bonds were issued to yield a market interest rate of $6\%.$

Crane's year end is December $31.$ On January $1,2026,$ immediately after making and recording the semi$-$annual interest payment,

Crane redeemed the bonds. A partial bond amortization schedule is presented below.

$($a$)$

Prepare the joumal entry to record the payment of interest on July $1,2024.($List all debit entries before credit entries. 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 $0$ for the amounts.$)$

Date

Account Titles

Debit

Credit

July $1,2024$

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