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Please find the missing and show your work. Ivanhoe Capital Ltd. issued 600 convertible $1,000 bonds at 104. After issuance, similar bonds were sold at
Please find the missing and show your work.
Ivanhoe Capital Ltd. issued 600 convertible $1,000 bonds at 104. After issuance, similar bonds were sold at 98. Assume that Ivanhoe Capital Ltd. follows IFRS and recorded the issuance of the bonds and conversion rights accordingly. On a date when the bonds had a carrying value of $591,300, Bantry paid $14,800 to the bondholders to induce early conversion. Record the conversion using the book value method. (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 for the amounts.) Account Titles and Explanation Debit Credit Loss on Redemption of Bonds 14800 Contributed Surplus - Conversion Rights 576500 Bonds Payable 591300 Common Shares Cash 14800Step by Step Solution
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