4. On January 1, 2021, Crane Ltd. issued $640,000 of 5%, 5-year bonds. The bonds were issued to yield a market interest rate of 6%. Cranes year end is December 31. On January 1, 2023 immediately after making and recording the semi-annual interest payment, Crane redeemed the bonds. A partial bond amortization schedule is presented below.

Semi-Annual Interest Period		Interest Payment		Interest Expense		Amortization			Bond Amortized Cost
Jan. 1, 2021									$612,703
July 1, 2021		16,000		$18,381		$2,381			615,084
Jan. 1, 2022		16,000		18,453		2,453			617,537
July 1, 2022		16,000		18,526		2,526			620,063
Jan. 1, 2023		16,000		18,602		2,602			622,665

Prepare the journal entry to record the payment of interest on July 1, 2021. (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 and Explanation	Debit	Credit
July 1
	(To record interest payment.)

Prepare the journal entry to accrue the interest expense on December 31, 2021. (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 and Explanation	Debit	Credit
Dec. 31
	(To accrue interest expense.)

Prepare the journal entry to record the payment of interest on January 1, 2022. (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 and Explanation	Debit	Credit
Jan. 1
	(To record interest payment.)

Prepare the journal entry to record the redemption of the bonds assuming they were redeemed at 100 on January 1, 2023. (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 and Explanation	Debit	Credit
Jan. 1
	(To record redemption of bonds.)

Prepare the journal entry to record the redemption of the bonds assuming they were redeemed at 96. (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 and Explanation	Debit	Credit
Jan. 1
	(To record redemption of bonds.)

Please answer as represented, thank you