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Ivanhoe Co. sells $396,000 of 12% bonds on June 1, 2017. The bonds pay interest on December

Ivanhoe Co. sells $396,000 of 12% bonds on June 1, 2017. The bonds pay interest on December

Ivanhoe Co. sells $396,000 of 12% bonds on June 1, 2017. The bonds pay interest on December 1 and June 1. The due date of the bonds is June 1, 2021. The bonds yield 8%. On October 1, 2018, Ivanhoe buys back $118,800 worth of bonds for $125,800 (includes accrued interest).

Prepare all of the relevant journal entries from the time of sale until the date indicated. Give entries through December 1, 2019. (Assume that no reversing entries were made.) (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 0 decimal places e.g. 58,971. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

 
manish jayant 10-Sep-2020

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