Crane Company issued $630,000,6%, 20-year bonds on January 1, 2020, at 102. Interest is payable annually on January 1. Crane uses straight-line amortization for bond premium or discount. (a) 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 Debit Credit Date Jan. 1, 2020 Cash Bonds Payable Premium on Bonds Payable