Crane Company issues $360,000, 20-year, 9% bonds at 102. Prepare the journal entry to record the sale of these bonds on June 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
June 1	enter an account title for the journal entry on June 1	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on June 1	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on June 1	enter a debit amount	enter a credit amount

Cullumber Company has issued three different bonds during 2022. Interest is payable annually on each of these bonds.

1.		On January 1, 2022, 1,400, 6%, 5-year, $1,000 bonds dated January 1, 2022, were issued at face value.
2.		On July 1, $710,000, 7%, 5-year bonds dated July 1, 2022, were issued at 103.
3.		On September 1, $200,000, 5%, 5-year bonds dated September 1, 2022, were issued at 98.

Prepare the journal entries to record each bond transaction at the date of issuance. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit
choose a transaction date Jan. 1July 1Sept. 1	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Jan. 1July 1Sept. 1	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Jan. 1July 1Sept. 1	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount

The balance sheet for Crane Consulting reports the following information on July 1, 2022.

Long-term liabilities
Bonds payable		$4,900,000
Less: Discount on bonds payable		392,000		$4,508,000

Crane decides to redeem these bonds at 104 after paying annual interest. Prepare the journal entry to record the redemption on July 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
July 1	enter an account title for the journal entry on January 1	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on January 1	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on January 1	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on January 1	enter a debit amount	enter a credit amount

Cullumber Inc. issues an $820,000, 10%, 10-year mortgage note on December 31, 2022, to obtain financing for a new building. The terms provide for annual installment payments of $140,000. Prepare the entry to record the mortgage loan on December 31, 2022, and the first installment payment on December 31, 2023. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit
choose a transaction date Dec. 31, 2022Dec. 31, 2023	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Dec. 31, 2022Dec. 31, 2023	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title

Presented below are long-term liability items for Sheridan Company at December 31, 2022.

Bonds payable, due 2024		$700,000
Lease liability		70,000
Notes payable, due 2027		80,000
Discount on bonds payable		42,000

Prepare the long-term liabilities section of the balance sheet for Sheridan Company. (Enter account name only and do not provide descriptive information.)

Suppose the 2022 adidas financial statements contain the following selected data (in millions).

Current assets		$5,100		Cash		$840
Total assets		9,500		Interest expense		230
Current liabilities		3,500		Income taxes		180
Total liabilities		5,700		Net income		310

Compute the following values.

(a)	Debt to assets ratio. (Round to 0 decimal places, e.g. 60.)		enter percentages rounded to 0 decimal places	%
(b)	Times interest earned. (Round to 2 decimal places, e.g. 6.25.)		enter a number of times rounded to 2 decimal places	times