The following section is taken from Crane Ltd.s balance sheet at December 31, 2019. Bond...
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Accounting
The following section is taken from Crane Ltd.s balance sheet at December 31, 2019. Bond interest is payable annually on January 1. The bonds are callable on any interest date. Journalize the payment of the bond interest on January 1, 2020. (Credit occount tites are dutomaticallyindented when amount is entered. Do nat indent manually) Assume that on January 1, 2020, after paying interest, Crane calls bonds having a face value of 5516,500 . The call price is 104 . Record the redemption of the bonds, (Credit account titles are dutomaticaly indented when emount is entered. Do not indent manually) Prepare the entry to record the accrual of interest on December 31.2020. (Credit occount titles are automotically indented when amount is entered. Do not indent manuallyJ
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