Crane Company issued $830,000, 8%, 20-year bonds on January 1, 2025 at 103. Interest is payable annually on January 1. Crane uses the straight-line method of amortization and has a calendar year-end. Prepare all journal entries made in 2025 related to the bond issue. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries. If no entry is required, select "No Entry for the account titles and enter O for the amounts) Date 2025 Account Titles and Explanation Debit Credit

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Crane Company issued $830,000, 8%, 20-year bonds on January 1, 2025 at 103. Interest is payable annually on January 1. Crane uses
the straight-line method of amortization and has a calendar year-end.
Prepare all journal entries made in 2025 related to the bond issue. (Credit account titles are automatically indented when the amount is
entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries. If no
entry is required, select "No Entry for the account titles and enter O for the amounts)
Account Titles and Explanation
Date
2025
Debit
Credit
ALC
Transcribed Image Text:Crane Company issued $830,000, 8%, 20-year bonds on January 1, 2025 at 103. Interest is payable annually on January 1. Crane uses the straight-line method of amortization and has a calendar year-end. Prepare all journal entries made in 2025 related to the bond issue. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries. If no entry is required, select "No Entry for the account titles and enter O for the amounts) Account Titles and Explanation Date 2025 Debit Credit ALC
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