5. Crane Company issued $1,730,000 of bonds on January 1, 2020. (a) Your answer is correct. Prepare the journal entry to record the issuance of the bonds if they are issued at (1) 100, (2) 97, and (3) 105. not indent manually.) No. Account Titles and Explanation Debit Credit (1) Cash 1730000 Bonds Payable 1730000 (2) cash 1678100 Discount on Bonds Payable 51900 Bonds Payable 1730000 (3) Cash 1816500 Bonds Payable 1730000 Premium on Bonds Payable 86500 | Privacy Policy | 2000-2020 John Wiley & Sons, Inc. All Rights Reserved. A Division of lohn Wiley Son Inn Attempt E % a O (c) Prepare the journal entry to record the redemption of the bonds before maturity at 97. Assume the balance in Premium on Bonds Payable is $9,350 (CF indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Click if you would like to Show Work for thin muntin