Please answer question B. Thank you

Problem 6-04 (Part Level Submission) Presented below are three independent revenue arrangements for Ivanhoe Company. The company follows IFRS. Respond to the requirements related to each revenue arrangement. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to 0 decimal places, e.g. 5,275.) (al Your answer is partially correct. Try again. Ivanhoe sells 3-D printer systems. Recently, Ivanhoe provided a special promotion of zero-interest financing for two years on any new 3-D printer system. Assume that Ivanhoe sells Lyle Cartright a 3-D system, receiving a $4,000 zero-interest-bearing note on January 1, 2020. The cost of the 3-D printer system is $3,200. Ivanhoe imputes a 6% interest rate on this zero-interest note transaction. Prepare the journal entries to record the sale on January 1, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Debit Credit 494 Date Account Titles and Explanation January 1, 2020 Notes Receivable Sales Revenue (To record sales) January 1, 2020 Cost of Goods Sol Inventory (To record cost of goods sold) 3200 3200 Calculate the total amount of revenue to be recognized in 2020. Total revenue for Ivanhoe 1 4 000 SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT LINK TO TEXT Attempts: 3 of 3 used (b) Ivanhoe sells 20 non-refundable $108 gift cards for 3-D printer plastic on March 1, 2020. The plastic has a stand-alone selling price of $108 (cost $87). The gift card expiration date is June 30, 2020. Ivanhoe estimates that customers will not redeem 10% of these gift cards. The pattern of redemption is as follows. March 31 April 30 June 30 Cumulative Redemption Rate to Date 50% 80% 85% Prepare the 2020 journal entries related to the gift cards at March 1, March 31, April 30, and June 30. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (b) Ivanhoe sells 20 non-refundable $108 gift cards for 3-D printer plastic on March 1, 2020. The plastic has a stand-alone selling price of $108 (cost $87). The gift card expiration date is June 30, 2020. Ivanhoe estimates that customers will not redeem 10% of these gift cards. The pattern of redemption is as follows. March 31 April 30 June 30 Cumulative Redemption Rate to Date 50% 80% 85% Prepare the 2020 journal entries related to the gift cards at March 1, March 31, April 30, and June 30. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date sation Account Titles and Explanation Debit Credit (To record sales revenue) H1 (To record cost of goods sold) (To record sales revenue) (To record cost of goods sold) (To record sales) (To record cost of goods sold) SHOW LIST OF ACCOUNTS List of Accounts Problem 6-04 (Part Level Submission) Accounts Payable Accounts Receivable Advertising Expense Allowance for Doubtful Accounts Allowance for Sales Returns and Allowances Cash Commission Expense Commission Revenue Compensation Expense Consignment Sales Construction Expenses Contract Asset/Liability Cost of Goods Sold Estimated Inventory Returns Interest Expense Interest Income Interest Pavable Interest Receivable Inventory Inventory on Consignment Loss from Long-Term Contracts Materials, Cash, Payables Miscellaneous Expense No Entry Notes Receivable Office Expense Refund Liability Rent Revenue Returned Inventory Revenue from Consignment Sales Revenue from Long-Term Contracts Sales Discounts Sales Discounts Forfeited Sales Returns and Allowances Sales Revenue Service Revenue Unearned Rent Revenue Unearned Revenue Utilities Expense Warranty Expense Warranty Liability Warranty Revenue Problem 6-04 (Part Level Submission) Presented below are three independent revenue arrangements for Ivanhoe Company. The company follows IFRS. Respond to the requirements related to each revenue arrangement. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to 0 decimal places, e.g. 5,275.) (al Your answer is partially correct. Try again. Ivanhoe sells 3-D printer systems. Recently, Ivanhoe provided a special promotion of zero-interest financing for two years on any new 3-D printer system. Assume that Ivanhoe sells Lyle Cartright a 3-D system, receiving a $4,000 zero-interest-bearing note on January 1, 2020. The cost of the 3-D printer system is $3,200. Ivanhoe imputes a 6% interest rate on this zero-interest note transaction. Prepare the journal entries to record the sale on January 1, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Debit Credit 494 Date Account Titles and Explanation January 1, 2020 Notes Receivable Sales Revenue (To record sales) January 1, 2020 Cost of Goods Sol Inventory (To record cost of goods sold) 3200 3200 Calculate the total amount of revenue to be recognized in 2020. Total revenue for Ivanhoe 1 4 000 SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT LINK TO TEXT Attempts: 3 of 3 used (b) Ivanhoe sells 20 non-refundable $108 gift cards for 3-D printer plastic on March 1, 2020. The plastic has a stand-alone selling price of $108 (cost $87). The gift card expiration date is June 30, 2020. Ivanhoe estimates that customers will not redeem 10% of these gift cards. The pattern of redemption is as follows. March 31 April 30 June 30 Cumulative Redemption Rate to Date 50% 80% 85% Prepare the 2020 journal entries related to the gift cards at March 1, March 31, April 30, and June 30. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (b) Ivanhoe sells 20 non-refundable $108 gift cards for 3-D printer plastic on March 1, 2020. The plastic has a stand-alone selling price of $108 (cost $87). The gift card expiration date is June 30, 2020. Ivanhoe estimates that customers will not redeem 10% of these gift cards. The pattern of redemption is as follows. March 31 April 30 June 30 Cumulative Redemption Rate to Date 50% 80% 85% Prepare the 2020 journal entries related to the gift cards at March 1, March 31, April 30, and June 30. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date sation Account Titles and Explanation Debit Credit (To record sales revenue) H1 (To record cost of goods sold) (To record sales revenue) (To record cost of goods sold) (To record sales) (To record cost of goods sold) SHOW LIST OF ACCOUNTS List of Accounts Problem 6-04 (Part Level Submission) Accounts Payable Accounts Receivable Advertising Expense Allowance for Doubtful Accounts Allowance for Sales Returns and Allowances Cash Commission Expense Commission Revenue Compensation Expense Consignment Sales Construction Expenses Contract Asset/Liability Cost of Goods Sold Estimated Inventory Returns Interest Expense Interest Income Interest Pavable Interest Receivable Inventory Inventory on Consignment Loss from Long-Term Contracts Materials, Cash, Payables Miscellaneous Expense No Entry Notes Receivable Office Expense Refund Liability Rent Revenue Returned Inventory Revenue from Consignment Sales Revenue from Long-Term Contracts Sales Discounts Sales Discounts Forfeited Sales Returns and Allowances Sales Revenue Service Revenue Unearned Rent Revenue Unearned Revenue Utilities Expense Warranty Expense Warranty Liability Warranty Revenue