Ivanhoe Inc. operates a retail computer store. To improve its delivery services to customers, the company...

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Ivanhoe Inc. operates a retail computer store. To improve its delivery services to customers, the company purchased four new trucks on April 1, 2023. The terms of acquisition for each truck were as follows: 1. Truck # 1 had a list price of $27,700 and was acquired for a cash payment of $23,300. 2. 3. 4. Truck # 2 had a list price of $30,200 and was acquired for a down payment of $1.900 cash and a non-interest-bearing note with a face amount of $28,300. The note is due April 1, 2024. Ivanhoe would normally have to pay interest at a rate of 11% for such a borrowing, and the dealership has an incremental borrowing rate of 8%. Truck # 3 had a list price of $24,600. It was acquired in exchange for a computer system that Ivanhoe carries in inventory. The computer system cost $15,000 and is normally sold by Ivanhoe for $20,700. Ivanhoe uses a perpetual inventory system. Truck # 4 had a list price of $25,700. It was acquired in exchange for 1,000 common shares of Ivanhoe. The common shares trade in an active market valued at $23 per share in the most recent trade. (a) Prepare the appropriate journal entries for Ivanhoe Inc. for the above transactions, assuming that Ivanhoe prepares financial statements in accordance with IFRS. For Truck # 2, calculate the purchase price using any of the three methods (tables, financial calculator, or Excel). (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. List all debit entries before credit entries. Round factor values to 5 decimal places, e.g. 1.25124 and final answers to O decimal places, e.g. 5,275.) No. Account Titles and Explanation Debit Credit 1. 2. 3. (To record purchase of Truck #3) (To record the cost of sold goods) e to search T Ivanhoe Inc. operates a retail computer store. To improve its delivery services to customers, the company purchased four new trucks on April 1, 2023. The terms of acquisition for each truck were as follows: 1. Truck # 1 had a list price of $27,700 and was acquired for a cash payment of $23,300. 2. 3. 4. Truck # 2 had a list price of $30,200 and was acquired for a down payment of $1.900 cash and a non-interest-bearing note with a face amount of $28,300. The note is due April 1, 2024. Ivanhoe would normally have to pay interest at a rate of 11% for such a borrowing, and the dealership has an incremental borrowing rate of 8%. Truck # 3 had a list price of $24,600. It was acquired in exchange for a computer system that Ivanhoe carries in inventory. The computer system cost $15,000 and is normally sold by Ivanhoe for $20,700. Ivanhoe uses a perpetual inventory system. Truck # 4 had a list price of $25,700. It was acquired in exchange for 1,000 common shares of Ivanhoe. The common shares trade in an active market valued at $23 per share in the most recent trade. (a) Prepare the appropriate journal entries for Ivanhoe Inc. for the above transactions, assuming that Ivanhoe prepares financial statements in accordance with IFRS. For Truck # 2, calculate the purchase price using any of the three methods (tables, financial calculator, or Excel). (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. List all debit entries before credit entries. Round factor values to 5 decimal places, e.g. 1.25124 and final answers to O decimal places, e.g. 5,275.) No. Account Titles and Explanation Debit Credit 1. 2. 3. (To record purchase of Truck #3) (To record the cost of sold goods) e to search T