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

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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)
(d).
Prepare the journal entry to record the redemption of bonds at maturity, assuming interest for the last interest period has been paid and recorded. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date Account Titles and Explanation
Debit
Credit
Jan. 1,2032
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