On January $1,2025,$ Ivanhoe Company sold $11\%$ bonds having a maturity value of $$600,000\mathrm{.}00$ for $$671,868\mathrm{.}86,$ which provides the

bondholders with a $8\%$ yield. The bonds are dated January $1,2025,$ and mature January $1,2030,$ with interest payable December $31$

of each year. Ivanhoe Company allocates interest and unamortized discount or premium on the effective$-$interest basis.

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$($a$)$

Prepare the journal entry at the date of the bond issuance. $($Round answer to $2$ decimal places, e$.$g$.38,548\mathrm{.}25.$ 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.$)$