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Posted on Jul 31, 2024

Ivanhoe company issued $ 7 4 0 , 0 0 0 , 1 1 % , 1 0 - year bonds on December 3 1

Ivanhoe company issued $

740, 000, 11 %, 10 -

year bonds on December

31, 2021,

for $

670, 000 .

Interest is payable annually on December

31 .

Ivanhoe company uses the straight

-

line method to amortize bond premium or discount. Prepare the jornal entry to record the issuance of the bonds.

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