I have an accounting question

Cullumber Limited had $2.32 million of bonds payable outstanding and the unamortized premium for these bonds amounted to $44,100. Each $1,000 bond was convertible into 20 preferred shares. All bonds were then converted into preferred shares. The Contributed Surplus - Conversion Rights account had a balance of $22,400. Assume that the company follows IFRS.

Assuming that the book value method was used, what entry would be made?

Assume that Cullumber Ltd. offers $9,000 to induce early conversion. What journal entry would be made?