Crane Corporation issued $530,000 of 7%, 9-year bonds on January 1, 2023, at face value. The bonds require annual interest payments each December 31. Costs associated with the bond issuance were $25,200. Crane follows ASPE and uses the straight-line method to amortize bond issue costs.

Crane Corporation issued $530,000 of 7%, 9-year bonds on January 1,2023 , at face value. The bonds require annual interest payments each December 31 . Costs associated with the bond issuance were $25,200, Crane follows ASPE and uses the straight-lin method to amortize bond issue costs: Prepare the journal entry for the December 31, 2023 interest payment and bond issuance cost amortization. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titfes and enter o for the amounts. List all debit entries before credit entries.) Crane Corporation issued $530,000 of 7%, 9-year bonds on January 1,2023 , at face value. The bonds require annual interest payments each December 31 . Costs associated with the bond issuance were $25,200, Crane follows ASPE and uses the straight-lin method to amortize bond issue costs: Prepare the journal entry for the December 31, 2023 interest payment and bond issuance cost amortization. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titfes and enter o for the amounts. List all debit entries before credit entries.)