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At December 31, 2025, Whispering Company has outstanding three long-term debt issues. The first is a $6,150,000 note payable which matures June 30,2028 . The
At December 31, 2025, Whispering Company has outstanding three long-term debt issues. The first is a $6,150,000 note payable which matures June 30,2028 . The second is a $17,760,000 bond issue which matures September 30,2029 . The third is a $53,800,000 sinking fund debenture with annual sinking fund payments of $10,760,000 in each of the years 2027 through 2031 . Prepare the note disclosure for the long-term debt at December 31, 2025. (Do not leave any answer field blank. Enter 0 for amounts.) On December 31, 2025, Crane Company acquired a computer from Plato Corporation by issuing a $660,000.00 zero-interest-bearing note, payable in full on December 31, 2029. Crane Company's credit rating permits it to borrow funds from its several lines of credit at 12%. The computer is expected to have a 5-year life and a $77,000 salvage value. Click here to view factor tables. (a) Prepare the journal entry for the purchase on December 31, 2025. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answers to 2 decimal places, e.g. 58,971.23. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)
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