Crane Corporation issued 2,100, 9%, 5-year, $1,000 bonds dated January 1, 2020, at 100. Interest is paid each January 1. prepare the adjusting journal entry on December 31, 2020, to record interest...

Crane Corporation issued 2,100, 9%, 5-year, $1,000 bonds dated January 1, 2020, at 100. Interest is paid each January 1.

prepare the adjusting journal entry on December 31, 2020, to record interest expense.

what is the account title and explanation?

what is debit or credited?