Ivanhoe Company sold $$3,240,000,9\%,10-$year bonds on January $1,2025.$ The bonds were dated January $1,2025,$ and pay interest on January $1.$ The company uses straight$-$line amortization on bond premiums and discounts. Financial statements are prepared annually.

$($a$)$

Your answer is correct.

Prepare the journal entries to record the issuance of the bonds assuming they sold at: $(1)102$ and $(2)97.($List all debit entries before credit entries. Sredit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts.$)$

No$.$ Date Account Titles and Explanation

Debit

Credit

$\frac{1}{1}\frac{?}{25}$

Cash

$$

$\frac{1}{1}\frac{?}{25}$

Cash

Discount on Bonds Payable