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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.

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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. Credit 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 L. 1/1/25 Cash Premium on Bonds Payable Bonds Payable 1/1/25 Cash Annual nterest Periods Issue date 1 2 3 Discount on Bonds Payable Bonds Payable Debit 3304800 3142800 97200 Credit Prepare amortization table for issuance of the bonds sold at 102 for the first three interest payments +A Interest to Be Paid EA Interest Expense to Be Recorded A Premium Amortization Prepare amortization table for issuance of the bonds sold at 97 for the first three interest payments. Annual Interest Periods Issue date $ 1 2 3 Interest to Be Paid $ Interest Expense to Be Recorded $ Discount Amortization 64800 3240000 3240000 SA +A Unamortize Premium Unamorti Discour SUPPORT SUPPORT

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