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please solve it within 10 mins Crane's Motor Corp. issued $430,000 of 4.0%,5-year bonds on April 1, 2024. Interest is payable semi-annually on April 1
please solve it within 10 mins
Crane's Motor Corp. issued $430,000 of 4.0%,5-year bonds on April 1, 2024. Interest is payable semi-annually on April 1 and October 1. On April 1, 2026, immediately after making and recording the semi-annual interest payment, Crane's redeemed the bonds. Below is a partial amortization schedule for the first few years of the bond issue. Were the bonds issued at a discount or at a premium? The bonds were issued at a What is the bond's face value? Face value $ What will be the bond's carrying amount at the maturity date? Bond's carrying amount $ Prepare the journal entry to record the payment of interest on Oct 1, 2024. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 2 decimal places, e.g. 5,275.25.) Prepare the journal entry to record the redemption of the bonds assuming they were redeemed at 100. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 2 decimal places, e.g. 5,275.25.) Prepare the journal entry to record the redemption of the bonds assuming they were redeemed at 96. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to 2 decimal places, e.g. 5,275.25.)Step by Step Solution
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