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The 12% bonds payable of Ivanhoe Co. had a carrying amount of $4090000 on December 31,2024 . The bonds, which had a face value of
The 12% bonds payable of Ivanhoe Co. had a carrying amount of $4090000 on December 31,2024 . The bonds, which had a face value of $3930000, were issued at a premium to yield 10%. Ivanhoe uses the effective-interest method of amortization. Interest is paid on June 30 and December 31 . On June 30, 2025, several years before their maturity, Ivanhoe retired the bonds at 104 plus accrued interest. The loss on retirement is
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