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On January 1, 2019, Crane issued 10-year, $ 100,000 face value, 6% bonds at par. Each $1,000 bond is convertible into 30 shares of Crane

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On January 1, 2019, Crane issued 10-year, $ 100,000 face value, 6% bonds at par. Each $1,000 bond is convertible into 30 shares of Crane $2 par value common stock. The company has had 10,000 shares of common stock (and no preferred stock) outstanding throughout its life. None of the bonds have been converted as of the end of 2020. (lenore all tax effects.) (a) Prepare the journal entry Crane would have made on January 1, 2019 to record the issuance of the bonds. (If no entry is required, select "No entry for the account titles and enter for the amounts Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Jan 31 2019

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