Problem 10-05A Crane Company sold $4.800,000, 7%, 15-year bonds on January 1, 2022. The bonds were dated January 1, 2022, and pay interest on December 31. The bonds were sold at 96. 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 Account Titles and Explanation Debit Credit Jan. 1 At December 31, 2022, $8,000 of the bond discount had been amortized. Show the long-term liability balance sheet presentation of the bond liability at December 31, 2022. CRANE COMPANY Balance Sheet (Partial) At January 1, 2024, when the carrying value of the bonds was $4,704,000, the company redeemed the bonds at 104. Record the redemption of the bonds assuming that interest for the year had already been paid. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Click if you would like to Show Work for this question: Open Show Work Prepare the current liabilities section of the balance sheet at January 31, 2022. Assume no change in Accounts Payable. CULLUMBER COMPANY Balance Sheet (Partial) Click if you would like to Show Work for this question: Open Show Work