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Rell Corporation reports under IFRS No. 9. Rell has an investment in Tirish, Inc bonds that Rell accounts for at amortized cost. given that the bonds pay only interest and principal and Rell's business purpose is to hold the bonds to maturity. Rell purchased the bonds for 11,500,000. As of December 31, 2021, Rel calculates 915.000 of credit losses expected for default events occurring during 2022 and 600,000 of credit losses expected for default events occurring after 2022 Required: 1. Assume the Tinish bonds have not had a significant increase in credit risk. Prepare the journal entry to record any Impatrment loss as of December 31, 2021 2 Assume the Tinish bonds have had a significant increase in credit risk. Prepare the journal entry to record any Impalment loss as of December 31, 2021. 3. Assume the Tirish bonds have not had a significant increase in credit risk, and that as of December 31, 2022, Rell calculates 800,000 of credit losses expected for default events occurring during 2023 and 500,000 of credit losses expected for default events occurring after 2023. Prepare the Journal entry Rell would make with respect to any Impalment loss as of December 31, 2022 Answer is not complete. Complete this question by entering your answers in the tabs below. Required Required 2 Required 3 Assume the Trish bonds have not had a significant increase in credit risk. Prepare the journal entry to record any impairment loss as of December 31, 2021. (if no entryfes required for a transaction/event, select "No joumal entry required in the first account field.) Na Date General Journal Debit Credit 1 December 31.20 Loss on impairment (NI) 250,000 $ Allowance for credit losses 250,000 Required 2 > Rell Corporation reports under IFRS No. 9. Rell has an Investment in Tirish, Inc. bonds that Rell accounts for at amortized cost, glven that the bonds pay only interest and principal and Rell's business purpose is to hold the bonds to maturity. Rell purchased the bonds for 11.500,000. As of December 31, 2021, Rell calculates 915,000 of credit losses expected for default events occurring during 2022 and 600,000 of credit losses expected for default events occurring after 2022 Required: 1. Assume the Tinish bonds have not had a significant increase in credit risk. Prepare the journal entry to record any Impalrment loss as of December 31, 2021 2. Assume the Tirish bonds have had a significant increase in credit risk. Prepare the journal entry to record any impairment loss as of December 31, 2021 3. Assume the Tirish bonds have not had a significant increase in credit risk, and that as of December 31, 2022. Rell calculates 800,000 of credit losses expected for default events occurring during 2023 and 500,000 of credit losses expected for default events occurring after 2023. Prepare the Journal entry Rell would make with respect to any Impalment loss as of December 31, 2022 Answer is not complete. Complete this question by entering your answers in the tabs below. Required piluired ? Required Assume the Tinish bonds have had a significant increase in credit risk. Prepare the joumal entry to record any impairment loss as of December 31, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Date General Journal Debit Credit Rell Corporation reports under IFRS No. 9. Rell has an Investment in Tirish, Inc. bonds that Rell accounts for at amortized cost, given that the bonds pay only Interest and principal and Rell's business purpose is to hold the bonds to maturity, Rell purchased the bonds for 11.500,000. As of December 31, 2021. Rell calculates 915,000 of credit losses expected for default events occurring during 2022 and 600,000 of credit losses expected for default events occurring after 2022 Required: 1. Assume the Tirish bonds have not had a significant increase in credit risk. Prepare the Journal entry to record any impairment loss as of December 31, 2021 2 Assume the Tinish bonds have had a significant increase in credit risk. Prepare the journal entry to record any impairment loss as of December 31, 2021 3. Assume the Tirish bonds have not had a significant increase in credit risk, and that as of December 31, 2022, Rell calculates 800,000 of credit losses expected for default events occurring during 2023 and 500,000 of credit losses expected for default events occurring after 2023. Prepare the journal entry Rell would make with respect to any impairment loss as of December 31, 2022 Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Requi Assume the Tirish bonds have not had a significant increase in credit risk, and that as of December 31, 2022, Rell calculates 800,000 of credit losses expected for default events occurring during 2023 and 500,000 of credit losses expected for default events occurring after 2023. Prepare the journal entry Rell would make with respect to any impairment loss as of December 31, 2022. (If no entry is required for a transaction/event, select "No journal entry required" in the first account held Show less No Date General Journal Debit Credit