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Crane Company issued $527,000 of 7%,10-year bonds on January 1,2022, at face value....

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Question

Accounting

Crane Company issued $527,000 of 7%,10-year bonds on January 1,2022, at face value. Interest is payable annually on January 1,2023.
(a)
(b).
(c)
Prepare the journal entry to record the payment of interest on January 1,2023.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Jan. 1,2023
image

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