Ivanhoe Electric sold $6,480,000, 10%, 10-year bonds on January 1, 2022. The bonds were dated January 1, 2022, and paid interest annually on January 1. The bonds were sold at 98. (a) Your answer is correct. Prepare the journal entry to record the issuance of the bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Jan. 1. 2022 Account Titles and Explanation Cash Debit 6350400 Credit Discount on Bonds Payable Bonds Payable 129600 6480000 At December 31, 2022, $12,960 of the Discount on Bonds Payable account has been amortized. Show the balance sheet presentation of the long-term liability at December 31, 2022. (Enter account name only and do not provide descriptive information.) Ivanhoe Electric Balance Sheet (Partial) December 31, 2022 m Liabilities Payable Discount on Bonds Payable 6480000 (c) On January 1, 2024, when the carrying value of the bonds was $6,376,320, the company redeemed the bonds at 102. Record the redemption of the bonds assuming that interest for the period has already been paid. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Jan. 1, 2024 Account Titles and Explanation Debit Credit Bonds Payable Loss on Bond Redemption Loss on Bond Redemption Discount on Bonds Payable Cash eTextbook and Media