Lachapelle Drilling Inc, which follows IFRS, Jan 1, 2020 issued 1,000 ten year, 6% convertible bonds (par $ 1,000 each). Interest paid annually on the bonds Each $ 1,000 bond may be converted into 50 common shares, which are currently trading at $ 17 per share. Samilar straight bonds carry an insed re of 8% Lachapelle issued their bonds at 91 cash. Instructions a) Assume Lachapelle Drilling Ltd. decides to use the residual method and measures the debt first Calculate the amount to be allocated to the bood and to the option. (2mark) b) Prepare the journal entry at date of issuance of the bonds under IFRS. (2mark) Assume that after 4 years (Jan 1, 2024), all the holders of the convertible debt decided to convert their convertible bonds before the bond maturity date. Prepare the journal entry to record the conversion. (3mark) d) How many shares were issued at the conversion? (Imark) e) If Lachapelle follows ASPE, Prepare the journal entry at date of issuance of the bonds under ASPE (Optional part for Bonus 2 marks)