Question: Ivanhoe Inc. issues $3,500,000, 5-year, 14% bonds at 103 , with interest payable annually on January 1 . The straight-line method is used to amortize

Ivanhoe Inc. issues $3,500,000, 5-year, 14% bonds at 103 , with

interest payable annually on January 1 . The straight-line method is used

to amortize bond premium. Prepare the journal entry to record the sale

Ivanhoe Inc. issues $3,500,000, 5-year, 14% bonds at 103 , with interest payable annually on January 1 . The straight-line method is used to amortize bond premium. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Prepare the adjusting journal entry to record interest expense and bond premium amortization on December 31, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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