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Ivanhoe Electric sold $3,250,000, 12%, 10-year bonds on January 1, 2022. The bonds were dated...

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Accounting

Ivanhoe Electric sold $3,250,000, 12%, 10-year bonds on January 1, 2022. The bonds were dated January 1 and pay interest annually on January 1. Ivanhoe Electric uses the straight-line method to amortize bond premium or discount. The bonds were sold at 101.

image

Annual Interest Periods

Interest to Be Paid

Interest Expense to Be Recorded

Premium Amortization

Unamortized Premium

Bond Carrying Value

Issue date

 No entry No entry No entry

1

2

3

4

Thank you!

(a) Prepare the joumal 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.) Debit Credit Date Account Titles and Explanation Jan. 1. 2022 e Textbook and Media List of Accounts Save for later Attempts: 0 of 5 used Submit

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