View Policies Current Attempt in Progress Ivanhoe Products Ltd. issued $3.12 million of 3%, 5 year bonds on January 1, 2021. The bonds were dated January 1 and pay interest annually. There is no collateral secured against the bonds and Ivanhoe Products may buy back the bonds at any time. The market interest rate was 4% for these bonds, Ivanhoe has a calendar year end Click here to view the factor table. Present Value of 1 Click here to view the factor tablet. Present Value of an Annuity of 1 Calculate the price of the bonds. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to decimal places, s 1,575) Price of the bonds $ Record the bond issue. (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.) Date Account Titles and Explanation Debit Credit Jan. 1. 2021 To record issuance of bonds) O C 2 A Pitsa Insert 73 + F12 FB F9 F10 F11