At the end of Year $1,$ Terry Company prepared the following schedule of investments in available$-$for$-$sale debt securities $($all of which were acquired at par value$)$:

Company Amortized Cost $12/31/$Y$1$ Fair Value Cumulative Change in Fair Value

Morgan Company $$35,000$ $$34,200$ $$(800)$

Nance Company $50,00053,1003,100$

Totals $$85,000$ $$87,300$ $$2,300$

During Year $2,$ the following transactions occurred:

July $1$ Purchased Oscar Company debt securities with a par value of $100,000$ for $$98,000.$ The securities carry an annual interest rate of $10\%,$ mature on December $31,$ Year $4,$ and pay interest seminannually on July $1$ and December $31.$ Terry uses the straight$-$line method to amortize any discounts or premiums.

Oct. $11$ Sold all of the Morgan Company securities for $$33,000$ plus interest of $$1,300.$

Dec. $31$ Received interest of $$6,000$ on the Nance Company and Oscar Company debt securities$,$ and the following yearend total market values were available: Nance Company debt securities$,$ $$55,000$; Oscar Company debt securities$,$ $$96,000.$

Required:

Assume that Terry Company uses IFRS. Prepare journal entries to record the preceding information.