1- Prepare the adjusting journal entry on December 31,2023 assuming this is Crane's year end.

2-Prepare the journal entry for the payment of interest on April 1,2024

Crane Corporation issued $490,000 of 5-year bonds on April 1, 2023. Interest is paid semi-annually on April 1 and October 1 . Below is a partial amortization schedule for the first few years of the bond issue. Were the bonds issued at a discount or at a premium? The bonds were issued at a