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Crane Ltd$.$ issued $\backslash (\backslash$$ $355,000\backslash )$ of $5\backslash \%,5-$year bonds on January $1,2024.$ Interest is payable semi$-$annually.

Calculate the price of the bond assuming the market rate of interest is: $($a$)4\backslash \%,($b$)5\backslash \%,$ and $($c$)\backslash (6\backslash \%\backslash ).($For calculation purposes, use $5$ decimal places as displayed in the factor table provided. Round final answers to $0$ decimal places, e$.$g$.5,275.)$

Click here to view the factor table. Present Value of $1$

Click here to view the factor table. Present Value of an Annuity of $1$

$($a$)$ Market interest rate $4\backslash \%\backslash$$

$($b$)$ Market interest rate $5\backslash \%\backslash$$

$($c$)$ Market interest rate $6\backslash \%\backslash$$

Prepare the journal entry to record the issuance of the bond assuming the market rate of interest is: $($a$)4\backslash \%,($b$)5\backslash \%,$ and $($c$)6\backslash \%.($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. Round final answers to $0$ decimal places, e$.$g$.\backslash (5,275\backslash ).$ Prepare the journal entry to record the issuance of the bond assuming the market rate of interest is: $($a$)4\backslash \%,($b$)5\backslash \%,$ and $($c$)6\backslash \%.($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. Round final answers to $0$ decimal places, e$.$g$.5,275.)$

No$.$ Account Titles

Debit

Credit

$($a$)$

$($b$)$

$($c$)$