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On January 1, 2022, Crane Corporation issued $1,350,000 face value, 6%,10-year bonds at $1,255,182. This price resulted in an effective-interest rate of 7% on the

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On January 1, 2022, Crane Corporation issued $1,350,000 face value, 6%,10-year bonds at $1,255,182. This price resulted in an effective-interest rate of 7% on the bonds. The bonds pay annual interest, each January 1 Crane has a calendar year end. (a) Prepare the joumal entry to record the issue of the bonds on January 1. 2022. (List oll debit entries before credit entries, Credit account vitles are outomotically indented when the amount is entered, Do not indent manually. Prepare an amortization table through December 31,2025 (three interest periods) for this bond issue (Rotmd answers to the nearest whole dollor, es. 5.275. Prepare an amortization table through December 31, 2025 (three interest periods) for this bond issue. (Round answers to the neareot whole dollar, eg. 5,275) Prepare the joumal entry to record the accrual of interest and the amortization of the discount on December 31,2022 (Ust all debit entries before credit entries. Credit acoount tidies are automatically indented when the amount is entered. Do not indent manually. Round answers to the nearest whole dollar, es, 5,275.) Prepare the joumal entry to record the payment of interest on January 1, 2023. (Lkt all debit entries before credit entrias Credit acoount titles are outomatically indented when the anount is entered. Do not indent monually. Round answers to the nearest whole dollar, ces5,275) Prepare the joumal entry to record the accrual of interest and the amortization of the discount on December 31, 2023. (List olf debit entries before credit entries. Credit ocoount titles are dutomatioally indented when the amount is entered. Do not indent manually. Round answers to the nearest whole dollar, es. 5,275)

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