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Crane Ltd. sold Rs3,700,000, 7%, 10-year bonds on January 1, 2020. The bonds were dated January 1, 2020 and pay interest annually on January 1. Crane Company uses the straight-line method to amortize bond premium or discount. - Your answer is partially correct. Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2020, assuming that the bonds sold at 104. (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 an 1, 2020 Cash 3848000 Bonds Payable 38481 . 31, 2020 Interest Expense 244200 Premium on Bonds Payable 14800 Interest Payable 259 List of Accounts - Your answer is partially correct. Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2020, assuming that the bonds are sold at 98. (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 11.2020 V Cash 3700000 Bonds Payable 3700 ec 31, 2020 Interest Expense 266400 Discount on Bonds Payable Interest Payable 25