On January 1, 2017, Gless Textiles issued $12 million of 9%, 10-year convertible bonds.The bonds were issued at a price that provided a yield to maturity of 8% (market rate).The bonds pay interest on June 30 and December 31 each year.Each $1,000 bond is convertible into 40 shares of Gless's no par common stock.Bonds that are similar in all respects, except that they are nonconvertible, currently are selling at a yield to maturity of 11%.Answer the following questions 1)according to IFRS

a.Prepare journal entries for the issuance of the bonds by Gless.

b.Prepare journal entries for the June 30, 2017 interest payment.

c.On July 1, 2018, when Gless's common stock had a market price of $33 per share, ten percent of the bonds were converted into common stock.(Use the book value method to record the conversion under both US GAAP and IFRS.)