On August 1, 2025, Ivanhoe Company acquired 1220, $1000, 9% bonds at 97 plus accrued interest. The bonds were dated May 1, 2025, and mature on April 30, 2030, with interest paid each October 31 and April 30. The bonds will be added to Ivanhoe's available for-sale portfolio. The entry to record the purchase of the bonds on August 1, 2025 is Debt Investments Interest Receivable Cash Debt Investments Cash 1183400 27450 Debt Investments Interest Revenue Cash 1210850 Debt Investments Interest Revenue Discount on Debt Investments Cash 1220000 27450 1183400 27450 1210850 1210850 36600 1210850 1210850

On August 1, 2025, Ivanhoe Company acquired 1220, $1000, 9% bonds at 97 plus accrued interest. The bonds were dated May 1, 2025, and mature on April 30, 2030, with interest paid each October 31 and April 30. The bonds will be added to Ivanhoe's available for-sale portfolio. The entry to record the purchase of the bonds on August 1, 2025 is Debt Investments Interest Receivable Cash Debt Investments Cash 1183400 27450 Debt Investments Interest Revenue Cash 1210850 Debt Investments Interest Revenue Discount on Debt Investments Cash 1220000 27450 1183400 27450 1210850 1210850 36600 1210850 1210850

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Subject: acounting
Subject: accounting
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