Ivanhoe Inc. issues $240,000, 10-year, 8% bonds at 96. Prepare the journal entry to record the sale of these bonds on March 1, 2020.

Dr Cash 230,400

Dr Premium on Bonds Payable 9,600

Cr Bonds payable 240,000

Explanation:

Preparation of the journal entry to record the sale of bonds

Based on thr information given we were told that Ivanhoe Inc. issues the amount of $240,000 with bonds at 96 which means that the journal entry to record the transaction will be:

Dr Cash 230,400

(240,000×96%)

Dr Premium on Bonds Payable 9,600

Cr Bonds payable 240,000

answer; /// i believe that the correct answer is ///making it easy to work with the organization;