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Exercise 14-9 (Part Level Submission) On June 30, 2017, Ivanhoe Company issued $4,900,000face value of13%,20-year bonds at $5,268,625, a yield of12%. Ivanhoe uses the effective-interest
Exercise 14-9 (Part Level Submission)
On June 30, 2017, Ivanhoe Company issued $4,900,000face value of13%,20-year bonds at $5,268,625, a yield of12%. Ivanhoe uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31.
Show the proper balance sheet presentation for the liability for bonds payable on the December 31, 2018, balance sheet.(Round answers to 0 decimal places, e.g. 38,548.)
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