On January 1, 2022, Crane Corporation issued $1,950,000 face value, 6%, 10-year bonds at $1,813,040. This price resulted in an effective-interest rate of 7% on the bonds. Lock uses the effective-interest method to amortize bond premium or discount. The bonds pay annual interest on January 1. (a) Prepare the journal entry to record the issuance of the bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date January 1. 2022 (b) Account Titles and Explanation eTextbook and Media List of Accounts Save for Later Rebit Credit Attempts: 0 of 3 used Submit Answer