Crane Company issued $1,064,000,7%, 10-year bonds on January 1, 2022, for $1,142,307. This price resulted in an effective interest rate of 6% on the bonds. Interest is payable annually on January 1. Crane uses the effective-Interest method to amortize bond premium or discount (a1) Your answer is partially correct Prepare the schedule using effective-interest method to amortize bond premium or discount of Crane. (Round answers to decimal places, eg. 5,275) Interest Periods Interest to Be Paid Interest Expense to Be Recorded Unan Premium Amortization Pre Issue date $ $ $ 1 106400 63840 42560 2 106400 064,000, 7%, 10-year bonds on January 1, 2022, for $1,142,307. This price resulted in an effective-interest terest is payable annually on January 1. Crane uses the effective-interest method to amortize bond tially correct. ng effective interest method to amortize bond premium or discount of Crane. (Round answers to 0 decimal Premium Amortization Unamortized Premium Bond Carrying Value $ $ 78307 1064000 42560 35747 1099747