Crane Company issued $610,000, 10%, 10-year bonds on December 31, 2021, for $540,000. Interest is...
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Accounting
Crane Company issued $610,000, 10%, 10-year bonds on December 31, 2021, for $540,000. Interest is payable annually on December 31. Crane Company uses the straight-line method to amortize bond premium or discount.
Prepare the journal entry to record the issuance of the bonds.
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