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On January 1, 2020, Ivanhoe SA issued R$322,500, 7%, 5-year bonds at face value. Interest is payable annually on January 1. 1/Prepare the journal entry
On January 1, 2020, Ivanhoe SA issued R$322,500, 7%, 5-year bonds at face value. Interest is payable annually on January 1.
1/Prepare the journal entry to record the issuance of the bonds.
2/Prepare the journal entry to record the accrual of interest on December 31, 2020.
3/Prepare the journal entry to record the payment of interest on January 1, 2021.
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