Ivanhoe Electric sold $$3,350,000,12\%,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 $103.$

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

Account Titles and Explanation

Debit

Credit

Jan. $1,$

$2022$

Cash

Bonds Payable

Premium on Bonds Payable

$($b$)$

Prepare a bond premium amortization schedule for the first $4$ interest periods.

$\backslash$table$[[\backslash$table$[[$Annual$],[$Interest$],[$Periods$]],,$Interest to Be Paid,,$\backslash$table$[[$Interest Expense to Be$],[$Recorded$]],$Premium Amortization,Unamortized$],[\backslash$table$[[$Issue$],[$date$]],,,,,,$$