Answer accounting question correctly Current Attempt in ProgressCrane Corporation had the following transactions pertaining to debt investments.Purchased 50 Leeds Co. 8% bonds (each with a face value of $1,000) for $50,000 cash. Interest is payable annually on January1.1, 2022.2.Accrued interest on Leeds Co. bonds on December 31, 2022.3.Received interest on Leeds Co. bonds on January 1, 2023.4.Sold 40 Leeds Co. bonds for $41,600 on January 1, 2023. Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount isentered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. Record Journalentries in the order presented in the problem.)No.DateAccount Titles and ExplanationDebitCredit1.2.3.4.

Journal means the book of prime entry where all entries are recorded in different pages. Ledger means the posting of entries related to one account at one place. JOURNAL ENTRIES IN THE BOOKS OF M/s CRANE CORPORATION Date Particulars Amount Dr. Amount Cr. Jan , 1 , 2022 Investment in 8% Bonds A/c _______Dr. 50,000 - To Cash A/c - 9,600 (Being bonds purchased for cash) Dec , 31 , 2022 Accrued interest A/c __________Dr. (50000*8%) 4,000 - To Interest on bonds A/c - 4,000 (Being bonds interest due) Jan , 1 , 2023 Cash A/c _________________Dr. 4,000 - To Accrued interest A/c - 4,000 (Being accrued interest received) Jan , 1 , 2023 Cash A/c ______________Dr. 41,600 - To Investment in 8% Bonds A/c - 40,000 To Profit on sale of bonds A/c - 1,600 (Being bonds sold at profits)