Blossom Corp. offers three-year, 6% convertible bonds (par $1,000 ). Each $1,000 bond may be converted into 205 common shares, which are currently trading at $3 per share. Similar straight bonds carry an interest rate of 9%.800 bonds are issued at par. Assume that holders of the convertible debt of Bond Corp. decide to convert their convertible bonds before the bonds mature. The bond discount will be partially amortized at this point. Blossom Corp. wants to reduce interest costs at some point during the life of the debt. It therefore offers an additional cash premium of $15,100 to the bondholders to convert, at a time when the carrying amount of the debt was $972,500. The Contributed Surplus - Conversion rights amounted to be $60,751. Assume further that the residual value method was used to allocate the issue price originally between debt and equity components, with the debt being measured at its discounted cash flows and the equity being valued as the residual amount. The bond's fair value at the conversion time is $981,500 (ignoring the conversion feature) due to lower market interest rates. Prepare the journal entries to record the induced conversion under both IFRS and ASPE. (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.) Account Titles Debit Credit ASPE