On May 1, 2022. Crane Corp. issued $ 530,000, 9%, 5-year bonds at face value. The bonds were dated May 1, 2022, and pay interest annually on May 1. Financial statements are prepared annually on December 31. (a) Prepare the journal entry to record the isuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit May 1. 2022 Prepare the adjusting entry to record the accrual of interest on December 31, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date Dec. 31. 2022 Show the balance sheet presentation on December 31, 2022. (Enter account name only and do not provide descriptive information.) Crane Corp. Balance Sheet (Partial) $ Prepare the journal entry to record payment of interest on May 1, 2023. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit May 1, 2023 Prepare the adjusting entry to record the accrual of interest on December 31, 2023. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date Dec. 31 2023 Assume that on January 1, 2024. Crane pays the accrual bond interest and calls the bonds. The call price is 102. Record the payment of interest and redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date Jan. 1. 2024 (To record payment of interest) Jan. 1. 2024 (To record redemption of the bonds)