On January $1,2025,$ Ivanhoe Company sold $11\%$ bonds having a maturity value of $$600,000\mathrm{.}00$ for $$671,868\mathrm{.}86,$ which provides the

bondholders with a $8\%$ yield. The bonds are dated January $1,2025,$ and mature January $1,2030,$ with interest payable December $31$

of each year. Ivanhoe Company allocates interest and unamortized discount or premium on the effective$-$interest basis.

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$($a$)$

Your answer is correct.

Prepare the journal entry at the date of the bond issuance. $($Round answer to $2$ decimal places, e$.$g$.38,548\mathrm{.}25.$ If no entry is required,

select $"$No Entry" for the account titles and enter $0$ for the amounts. Credit account titles are automatically indented when the amount is

entered. Do not indent manually. List all debit entries before credit entries.$)$

Date Account Titles and Explanation

Debit

Credit

January

$1,2025$

Bonds Payable

$600,000$

Premium on Bonds Payable

$71,868\mathrm{.}86$

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Attempts: $1$ of $3$ used

$($b$)$

Prepare a schedule of interest expense and bond amortization for $2025-2027.($Round answer to $2$ decimal places, e$.$g$.38,548\mathrm{.}25.)$

Schedule of Interest Expense and Bond Premium Amortization

Effective$-$Interest Method

Liabilities

Question $3$ of $5$

$\frac{12}{31}\frac{?}{25}$

$\frac{12}{31}\frac{?}{26}$

$\frac{12}{31}\frac{?}{27}$

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List of Accounts