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Presented below is the partial bond discount amortization schedule for Crane Corp. Crane uses the effective-interest method of amortization. (a) Prepare the journal entry to
Presented below is the partial bond discount amortization schedule for Crane Corp. Crane uses the effective-interest method of amortization. (a) Prepare the journal entry to record the payment of interest and the discount amortization at the end of period 1. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Prepare the journal entry to record the payment of interest and the discount amortization at the end of period 1. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Prepare the journal entry to record the redemption of the bonds at maturity, assuming the bonds were issued at 100. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Prepare the journal entry to record the issuance of the bonds if they are issued at (1) 100 , (2) 98 , and (3) 105 . (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Cullumber Company issued $1,840,000 of bonds on January 1, 2022. (a) Prepare the journal entry to record the issuance of the bonds if they are issued at (1) 100, (2) 98 , and (3) 105. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Prepare the journal entry to record the redemption of the bonds before maturity at 98 . Assume the balance in Premium on Bonds Payable is $9,500. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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