Assume that a foreign company using IFRS is owned by a company using US GAAP. Thus, IFRS balances must be converted to us GAAP to prepare consolidated financial statements. Ignore Income taxes mir AS, sed convertible bonds at their tace value of 102.000 lira on December 1, 2020. The bonds have a 12-year life with interest of 9 percent paytible antically, Al the date of issue, the prevailing interest rate for similar debt without a conversion option was 11 percent Required: o. Prepare journal entries for this compound financial instrument for the year ending December 31, 2020. under (1) IFRS and (2) US b. Prepare the entrylles that the US parent would make on the December 31, 2020, conversion worksheet to convert IFRS balances to US GAAP GAAP Complete this question by entering your answers in the tabs below. Roured Red Prepare Journal entries for this compound sanctal instrument for the year ending December 31, 2020. under (1) IFRS and (2) U.S. GMAR pentru mine transactionaliste formal entry required in the first account Round Pictor 1:7 decimal rundprinted and finances whole dollar) View tractions