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Ivanhoe Company issued $430,000, 9%, 20-year bonds on January 1, 2020, at 102. Interest is payable...

Ivanhoe Company issued $430,000, 9%, 20-year bonds on January 1, 2020, at 102. Interest is payable annually on January 1. Ivanhoe uses straight-line amortization for bond premium or discount.

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(a)

Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date

Account Titles and Explanation

Debit

Credit

Jan. 1, 2020

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Answer #1

Solu bi on ssve proceeds 430000 X to2/ 438600 Issue - 438600 8600 430000 premtum on Date Accoont tlesExplanaton Gadat Debit 4

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