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help needed!! Crane Company issued $340,000 of 6%,20-year bonds on January 1, 2025, at face value. Interest is payable annually on January 1. Prepare the
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Crane Company issued $340,000 of 6%,20-year bonds on January 1, 2025, at face value. Interest is payable annually on January 1. Prepare the joumal entry to record the issuance of the bonds. (List all debit entries before credit entries. Credit occount titles are outomatically 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.) Prepare the journal entry to record the accrual of interest on December 31, 2025. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entened. Do not indent manually, If no entry is required, select "No Entry" for the occount titles and enter 0 for the amounts. Prepare the joumal entry to record the payment of interest on January 1, 2026. (List all debit entries before credit entries. Credit account titles are automotically 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.) Prepare the journal entry to record the redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded. (List all debit entries before credit entries. 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 tities and enter O for the amounts.) Step by Step Solution
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