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please answer full question Crane Co. sels $365,000 of 12% bonds on June 1,2025. The bonds pay interest on December 1 and June 1. The
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Crane Co. sels $365,000 of 12% bonds on June 1,2025. The bonds pay interest on December 1 and June 1. The due date of the bonds is June 1, 2029. The bonds yield 10%. On October 1, 2026, Crane buys back $120,450 worth of bonds for $127,450 (includes accrued interest). Give entries through December 1, 2027. Prepare a bond amortization schedule using the effective-interest method for discount and premium amortization. Amortize premium or discount on interest dates and at year-end. (Round answers to 0 decimal places, e.g. 38,548.) Prepare all of the relevant journal entries from the time of sale until December 31, 2027. (Assume that no reversing entries were made.) (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answers to 0 decimal ploces, e.3. 58,971. Record entries in the order displayed in the problem statement. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) 0/1/26 interest Expense Premium on Bonds Parable. Cash (To record interest expense and premium amortization) 0/1/26 Bonds Pryable Premium on Bonds Payable Gain on Redemption of Eonds Cash (To record buy back of bonds) 2/1/26 19176 2724 Premiumion Bends Peyuble \begin{tabular}{|l|} \hline 19176 \\ \hline 2724 \\ \hline \end{tabular} 2/31/26: 3173 Prenium on Bonds Payabic. 477 Interest Payable: 3650 1127 Interert Expenie 15866 Premium on bonos Payable 2384 Interest Pyosalie 3650 2/1/27 Interest Expenise 18896 21900 Step by Step Solution
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