Crane Company issued $500,000 of 5-year, 7% bonds at 98 on January 1, 2022. The bonds pay interest annually. (a1) Your answer is partially correct. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Cash Debit 490,000 Credit K

Crane Company issued $500,000 of 5 -year, 7% bonds at 98 on January 1,2022 . The bonds pay interest annually. (a1) Your answer is partially correct. Prepare the joumal entry to record the issuance of the bonds. (Credit account titles are outomotically indented when amount is entered. Do not indent manually.)