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Crane Co sells $440,000 of 12% bonds on June 1, 2020. The bonds pay interest on December 1 and June 1. The due date of
Crane Co sells $440,000 of 12% bonds on June 1, 2020. The bonds pay interest on December 1 and June 1. The due date of the bonds is June 1, 2024. The bonds yield 8%. On October 1, 2021, Crane buys back $132,000 worth of bonds for $137.000 (includes accrued interest), Give entries through December 1, 2022. Prepare a bond amortization schedule using the effective-interest method for discount and premium amortization. Amortize premium or discount on interest dates and at year-end. (Round answers to decimal places, es, 38,548.) Schedule of Bond Discount Amortization Effective-Interest Method Bonds Sold to Yield Cash Paid Interest Expense Premium Amortized Carry Amoun Bond Date 6/1/20 $ $ $ $ 12/1/20 6/1/21 12/1/21 6/1/22
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