q4:

Crane Ltd. Issued 335,000,7%,10-year bonds on January 1, 2020, for 359,656. This price resulted in an effective-interest rate of 6% on the bonds. Interest is payable annually on January 1. Crane uses the effective-interest method to amortize bond premium or discount. Prepare the journal entry to record the issuance of the bonds. (Round answers to 0 decimal places, e.g. 15,250. Credit account tities are outomatically indented when amount is entered. Do not indent manually.) Prepare the journal entry to record the accrual of interest and the premium amortization on December 31,2020 . (Round answers to 0 decimal ploces, es. 15.250. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Prepare the journal entry to record the payment of interest on January 1, 2021. (Round answers to 0 decimal places, eg. 15,250. Credit account titles are automotically indented when amount is entered. Do not indent manually) Prepare the journal entry to record the payment of interest on January 1, 2021. (Round answers to 0 decimal places, e.g 15,250. Credit account titles are automatically indented when amount is entered. Do not indent manually.) eTextbook and Media List of Accounts Last saved 2 days ago, Attempts: 0 of 2 used Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes. Using multiple attempts will impact your score. 20% score reduction after attempt 1