Question: OOK nument CALCULATOR ESALE WY INSTRUCTOR RAE SCREEN PRINTERVENTION . Practice Exercise 14-02 of amortization for bond premium or discount. Assume an effective yield of

OOK nument CALCULATOR ESALE WY INSTRUCTOR RAE SCREEN PRINTERVENTION . Practice Exercise 14-02 of amortization for bond premium or discount. Assume an effective yield of 9.37504 Crane Company issued $3,100,000 of 10%, 10-year bonds on January 2, 2017, at 104. Interest is payable semiannually on July 1 and January 1. Crane Company uses the effective-nterest method Prepare the journal entries to record the following. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If ne entry wired elect "No Entry for the account titles and enter for the amounts.) (a) The issuance of the bonds (b) The payment of Interest and related amortization on Buy 1, 2017 The accrual of interest and the related amortization on December 31, 2017 Date Account Titles and Explanation Debit Credit (a) 1/1/17 Cash Bonds Payable Premium on Bonds Payable (b) 7/1/17 Interest Expense Premium on Bonds Payable Interest Payable (6) 12/31/17 I 2005-2021 Sons Inc. All red A Donal, Inc 14 MacBook Pro

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