Problem 15-01A a-f (Video) On May 1, 2020, Crane Corp. issued $660,000, 8%, 5-year bonds at face value. The bonds were dated May 1, 2020, and pay interest annually on May 1. Financial statements are prepare Prepare the journal entry to record the issuance 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, 2020 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Prepare the adjusting entry to record the accrual of interest on December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent man Date Account Titles and Explanation Debit Credit Dec. 31, 2020 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Show the balance sheet presentation on December 31, 2020. (Enter account name only and do not provide descriptive information. Round answers to o decimal places, e.o. 5,6 Crane Corp. Balance Sheet (Partial) SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT 50,000, 8%, 5-year bonds at face value. The bonds were dated May 1, 2020, and pay interest annually on May 1. Financal statements are prepared annually on December 31. ssuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) ation Debit Credit me accrual of interest on December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to decimal places, e.. anation Debit Credit December 31, 2020. (Enter account name only and do not provide descriptive information. Round answers to o decimal places, c.g. 5,675.) Partial) Prepare the journal entry to record payment of interest on May 1, 2021. (Credit account titles are automatically indented when amounts entered. Do not indent manually. Round Date Account Titles and Explanation Debat Credit May 1, 2021 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Prepare the adjusting entry to record the accrual of interest on December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not ment manual Date Account Titles and Explanation Debit Credit Dec 31, 2021 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Assume that on January 1, 2022, Crane pays the accrual bond interest and calls the bonds. The call price is 105. Record the payment of interest and redemption of the bonds. (Credit account answers to 0 decimal places, e.g. 5,675.) Date Account Titles and Explanation Debit Credit Jan. 1, 2022 (To record payment of interest) Jan. 1, 2022 (To record redemption of the bonds) Click if you would like to Show Work for this question: Open Show Work andt, Accounting Principles, 13e System Announcements e journal entry to record payment of interest on May 1, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to o declana Account Titles and Explanation Debit Credit 21 ET OP ACCOUNTS EXT LINK TO TEXT e adjusting entry to record the accrual of interest on December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Hound answers to Account Titles and Explanation Debit Credit 2021 ET OF ACCOUNTS LINK TO TEXT at on January 1, 2022, Crane pays the accrual bond interest and calls the bonds. The call price is 105. Record the payment of interest and redemption of the bonds. (Credit account titles are automatica to o decimal places, e.g. 5,675.) Account Titles and Explanation Debit Credit 22 (To record payment of interest) 22 (To record redemption of the bands) u would like to show Work for this question Doen Show Werk Problem 15-01A a-f (Video) On May 1, 2020, Crane Corp. issued $660,000, 8%, 5-year bonds at face value. The bonds were dated May 1, 2020, and pay interest annually on May 1. Financial statements are prepare Prepare the journal entry to record the issuance 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, 2020 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Prepare the adjusting entry to record the accrual of interest on December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent man Date Account Titles and Explanation Debit Credit Dec. 31, 2020 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Show the balance sheet presentation on December 31, 2020. (Enter account name only and do not provide descriptive information. Round answers to o decimal places, e.o. 5,6 Crane Corp. Balance Sheet (Partial) SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT 50,000, 8%, 5-year bonds at face value. The bonds were dated May 1, 2020, and pay interest annually on May 1. Financal statements are prepared annually on December 31. ssuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) ation Debit Credit me accrual of interest on December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to decimal places, e.. anation Debit Credit December 31, 2020. (Enter account name only and do not provide descriptive information. Round answers to o decimal places, c.g. 5,675.) Partial) Prepare the journal entry to record payment of interest on May 1, 2021. (Credit account titles are automatically indented when amounts entered. Do not indent manually. Round Date Account Titles and Explanation Debat Credit May 1, 2021 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Prepare the adjusting entry to record the accrual of interest on December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not ment manual Date Account Titles and Explanation Debit Credit Dec 31, 2021 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Assume that on January 1, 2022, Crane pays the accrual bond interest and calls the bonds. The call price is 105. Record the payment of interest and redemption of the bonds. (Credit account answers to 0 decimal places, e.g. 5,675.) Date Account Titles and Explanation Debit Credit Jan. 1, 2022 (To record payment of interest) Jan. 1, 2022 (To record redemption of the bonds) Click if you would like to Show Work for this question: Open Show Work andt, Accounting Principles, 13e System Announcements e journal entry to record payment of interest on May 1, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to o declana Account Titles and Explanation Debit Credit 21 ET OP ACCOUNTS EXT LINK TO TEXT e adjusting entry to record the accrual of interest on December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Hound answers to Account Titles and Explanation Debit Credit 2021 ET OF ACCOUNTS LINK TO TEXT at on January 1, 2022, Crane pays the accrual bond interest and calls the bonds. The call price is 105. Record the payment of interest and redemption of the bonds. (Credit account titles are automatica to o decimal places, e.g. 5,675.) Account Titles and Explanation Debit Credit 22 (To record payment of interest) 22 (To record redemption of the bands) u would like to show Work for this question Doen Show Werk