Prepare Ivanhoe's journal entries for (a) the January issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) No. (a) (b) (c) Date Jan. 1, 2025 July 1, 2025 Dec. 31, 2025 Account Titles and Explanation Debit Credi 0000
Prepare Ivanhoe's journal entries for (a) the January issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) No. (a) (b) (c) Date Jan. 1, 2025 July 1, 2025 Dec. 31, 2025 Account Titles and Explanation Debit Credi 0000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
9
Transcribed Image Text:-
The Ivanhoe Company issued $400,000 of 8% bonds on January 1, 2025. The bonds are due January 1, 2030, with interest payable
each July 1 and January 1. The bonds are issued at face value.
Prepare Ivanhoe's journal entries for (a) the January issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry.
(If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented
when the amount is entered. Do not indent manually. List all debit entries before credit entries.)
No.
Your answer is partially correct.
(a)
(b)
(c)
Date
Jan. 1, 2025
July 1, 2025
Dec. 31, 2025
Account Titles and Explanation
II
Debit
Credi
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