Question $9$ of $9$

On December $31,2025,$ Crane Inc. rendered services to Beghun Corporation at an agreed price of $$103,397,$ accepting $$40,000$ down and agreeing to accept the balance in four equal installments of $$20,000$ receivable each December $31.$ An assumed interest rate of $10\%$ is imputed.

$($a$1)$

Your answer is correct.

Prepare an amortization schedule. Assume that the effective$-$interest method is used for amortization purposes. $($Round answers to $0$ decimal places, e$.$g$.5,275.)$

List of Accounts

Attempts: $1$ of $3$ used

$($a$2)$

Prepare the entry that would be recorded by Crane Inc. for the sale on December $31,2025.($Round answers to o decimal places, e$.$g$.5,275.$ If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.$)$

Account Titles and Explanation

Debit

Credit

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$