Question
Crane Company issued $610,000, 10%, 10-year bonds on December 31, 2021, for $540,000. Interest is payable annually on December 31. Crane Company uses the straight-line
Crane Company issued $610,000, 10%, 10-year bonds on December 31, 2021, for $540,000. Interest is payable annually on December 31. Crane Company uses the straight-line method to amortize bond premium or discount.
Prepare the journal entry to record the issuance of the bonds.
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Accounting And Auditing Research Tools And Strategies
Authors: Thomas R. Weirich, Thomas C. Pearson, Natalie Tatiana Churyk
10th Edition
1119698138, 9781119698135
