At December 31 2025, Crane co has outstanding 3 long term debt issues. The first is a 6,150,000 note payable which matures June 30, 2028. Second is a 20, 250,000 bond issue which matures september 30, 2029. Third is a 57,410,000 sinking fund debenture with annual sinking fund payments of 11,482,000 in each of the years 2027 through 2031. Prepare the note disclosure for the long term debt at December 31, 2025, 2026, 2027, 2028, 2029, and 2030. Also prepare the journal entry for the purchase on 12/31/25.

At December 31 2025, Crane co has outstanding 3 long term debt issues. The first is a 6,150,000 note payable which matures June 30, 2028. Second is a 20, 250,000 bond issue which matures september 30, 2029. Third is a 57,410,000 sinking fund debenture with annual sinking fund payments of 11,482,000 in each of the years 2027 through 2031. Prepare the note disclosure for the long term debt at December 31, 2025, 2026, 2027, 2028, 2029, and 2030. Also prepare the journal entry for the purchase on 12/31/25.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable

Section: Chapter Questions

Problem 16E

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