Ivanhoe Co$.$ is building a new hockey arena at a cost of $$2,680,000.$ It recelved a downparyment of $$500,000$ from local businesses to

support the project, and now needs to borrow $$2,180,000$ to complete the project. It therefore decides to issue

$$2,180,000$ of $10\mathrm{.}0\%,10-$year bonds. These bonds were lssued on January $1,2024,$ and pay interest annually on each January $1.$ The

bonds yleld $9\%$

$($a$)$

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Prepare the journal entry to record the issuance of the bonds on January $1,2024.($Round present walue factor calculations to $5$

decimal places, es$.1\mathrm{.}25124$ and the final answer to $0$ decimal places, es$.58,971.$ 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 the amount is entered. Do not indent manually.

List all debit entries before credit entries.$)$

$($b$)$

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Prepare a bond amortization schedule up to and including January $1,2028,$ using the effective$-$interest method. $($Round present

value factor to $5$ decimal places, es$.1\mathrm{.}24356$ and final answers to $0$ decimal places, e$\mathrm{.}8.38\mathrm{.}548.)$

$($C$)$

Assume that on July $1,2027,$ Ivanhoe Co$.$ redeems half of the bonds at a cost of $$1,156,700$ plus accrued interest. Prepare the

journal entry to record this redemption. $($Round present value factor to $5$ decimal places, e$.1\mathrm{.}24356$ and final answers to $0$ decimal

places, e$.$g$.38,548.$ 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 the amount is entered. Do not indent manually. List all debit entries before credit entries.$)$