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Exercise 17-5 On January 1, 2017, Crane Company acquires $160,000 of Spiderman Products, Inc, 10 % bonds at a price of $152,314. Interest is received

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Exercise 17-5 On January 1, 2017, Crane Company acquires $160,000 of Spiderman Products, Inc, 10 % bonds at a price of $152,314. Interest is received on January 1 of each year, and the bonds mature on January 1, 2020. The investment will provide Crane Company a 12 % yield . The bonds are dassified as held-to-maturity Prepare a 3-year schedule of interest revenue and bond discount amortization, applying the straight-line method. (Round answers to 0 decimal places, eg. 2,500.) Schedule of Interest Revenue and Bond Discount Amortization Straight-line Method Bond Purchased to Yield Bond Discount Amortization Carrying Amount Cash Received Interest Revenue of Bonds Date 1/1/17 $ 1/1/18 1/1/19 1/1/20 Prepare a 3-year schedule of interest revenue and bond discount amortization, applying the effective-interest method. (Round answers to 0 decimal places, e.g. 2,500.) Schedule of Interest Revenue and Bond Discount Amortization lacthe-Interest Method Prepare a 3-year schedule of interest revenue and bond discount amortization, applying the effective-interest method. (Round answers to 0 decimal places, e.g 2,500) Schedule of Interest Revenue and Bond Discount Amortization Effective-Interest Method Bond Purchased to Yield Cash Received Interest Revenue Bond Discount Carrying Amount Date Amortization of Bonds 1/1/17 1/1/18 1/1/19 1/1/20 (c) Prepare the journal entry for the interest revenue and discount amortization under the straight-ine method at December 31, 2018. (d) Prepare the journal entry for the interest revenue and discount amortization under the effective-interest method at December 31, 2018. (Round answers to 0 decimal places, e.q. 2,500. Credit account titles are automatically indented when amount is entered. Do not indent manually, If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Account Titles and Explanation Credit Debit (c) (c) Prepare the journal entry for the interest revenue and discount amortization under the straight-line method at December 31, 2018 (d) Prepare the journal entry for the interest revenue and discount amortization under the effective-interest method at December 31, 2018 (Round answers to 0 decimal places, e.g.. 2,500. Credit account titles are automatically indented when amount is entered. Do nof indent manually. If no entry required, select "No Entry" for the account titles and enter o for the amounts.) No. Account Titles and Explanation Debit Credit (c) (d) Open Shon Work Click if you would like to Show Work for this

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