Crane Company issued $630,000, 10-year, 4% bonds at 103. Your answer is partially correct. Prepare the...

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Crane Company issued $630,000, 10-year, 4% bonds at 103. Your answer is partially correct. Prepare the journal entry to recor

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Answer 1

Answer #1

Date	Account titles and explanation	Debit	Credit
Jan. 1	Cash($630,000 * 1.03)	$648,900
	Premium on Bonds Payable		$18,900
	Bonds Payable		$630,000

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Answer 2

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